It's hard to think of anything that makes this resemble real absinthe. The color is more akin to scope than a drinkable substance. Watering brings no louche. Very thin and watery on the tongue, but the burn is definitely there.
Overall, I don't see why anyone with knowledge of how this tastes would ever buy a bottle, or even one drink at a bar. It's only a notch up from Staro, but that's still waaaaay down on the absinthe ladder.
It just doesn't represent what a historic Franco-Suisse type of absinthe should taste like.