If it’s a good sounding/playing/well put together J type, it could say “mutton chops” on the headstock as far as I’m concerned - £700 isn’t astronomical, if it’s a Good instrument.
I’ve owned Yamaha’s from £100 worth to £3000 - the name on the headstock doesn’t mean much.
I sold a Squier Venus electric 12 for £800 About 7 years ago - god knows what I’d get for it now.
And it’s not emperors new clothes - it’s a nearly 40 year old instrument which was the predecessor of the current Fender Japan reissues which fetch £700+ The only “big” difference is a water slide decal on the headstock front.
🤷🏻♂️😉