It did look like the ink had run though, as opposed to dirt - the logos were blurred. I'd certainly have expected them to look dirty. I've been soaked to the skin in various tops and never had ink-running effect.
All credit to the cyclists for riding in that! Even the slightest corner looked lethal.
I haven't had a look at the replica stuff up close but usually the replica team kit on sale is different to the team issue gear - if it is the top then the most obvious thing being full zips as opposed to quarter zips but the material is different too and bit less robust and more like a mesh and sometimes lycra arms. You can sometimes also buy the team issue clothes but they are about double the price.