I agree. I don't think they were trying to create the exact sound they did. Rather, I think they were trying to create the best product they could. They definitely crafted the analog stages. The end result was produced in the same way that SSL mixers didn't sound like Neve or API. They were all trying to create the best product they could, and due to differences in components and design philosophies, they all sound unique and identifiable.
Another aspect is that the digital components were used differently back then. More modern devices put the AD converters at the very beginning of the circuit and DA converters at the very end. In the early days of digital, the large majority of the circuit was still analog with the AD/DA conversion happening only when needed, in this case as a replacement for the tape or BBD and converting back to analog for the rest of the circuit. That meant more passes through the AD/DA, which were not mass-produced parts like they are today, but usually custom chips that also contribute to the uniqueness of the sound.
Over the past 5 years or so, there seems to have been a reemergence of this technique. I think that Diamond Memory Lane is one that does that, too. That's a great emulation of an EH Deluxe Memory Man. I'm not sure if FTT uses this type of design, but whatever they're doing, they are getting closer.