A FH is a combination of two (or more) legitimate species originally conceived in Asia, but is now common in that everyone and their sister thinks by combining this species or that together, they will get a new and exciting variant..
It will never be a true species, because it is man induced.
Anyone can call it whatever they want, if its predominantly silver it could be called a platinum picachu, if mostly pink, a rose something or other.
In Asian it was a long term process of culling out many substandard individuals and combining the most colorful together to get a high standard, highly colored , non-deformed individual, and this process took time, hence the cost.
Probably why you see so many bland, unspectacular individual FHs in LFSs, because the local breeders do not have the space, or have not taken time to grow them out long enough, to notice and cull out the less than great looking ones before turning them over to be sold. In any hybrid spawn, some will look like the mother, some the father, and some in-between with a tiny percentage looking exceptional, and many more not so hot.