I've seen some I really liked.
But I've seen some that I disliked, looked fake... and oddly, the pricier the instrument that was reliced, the more artificial or completely weird I find that it looks. My guitarist has a very expensive hand made guitar (Well, he has a bunch...) that had the relic look done by the builder himself... it has a floyd rose (USA original) that was damaged by the relicing process..... it has some finish wearing on it that makes no sense at all for the location.
Real wear happens in certain places and ways, more or less.
Then there's a guy I'm aware of selling his very expensive custom shop bass that has had the relic process done, and it's probably someone on here, so I won't go into much detail or opinion other than to say that a relic instrument does not, imho, normally have a nearly entirely white basecoat on the front of the bass as the result of the relic look..... it's not what that looks like at all, and it looks more like someone painted it white badly over top of the existing finish. To me, relic looks like wear on the appropriate parts (where you touch, and paint chips and gouges. And for a VERY expensive instrument, a really good one, the relic look should at least look like a relic, not like an unfinished paint job base coat only on the front of the instrument, but pretty much uniformly covering the front of the body.
But it's very subjective, and my love is not someone else's, and vice versa!
I owned briefly a road worn strat (squier) that looked awesome, imho. played alright... looked awesome.