Several of the toys the Toyman acquired have been restored - basically stripped down and repainted, with new logos applied.
In some cases, doing this could be a good choice, if you aren't ruining an original toy to do it. Original Otaco toys bring far higher prices that restored/refurbished toys do, but whether you choose to restore or not will depend on your purpose in collecting.
If you are collecting for the joy of having and displaying your finds and are less concerned with the dollar value of the purchase, spending the money (or learning to do it yourself) to restore old toys might be worth it, but that's really an individual's choice.
Me, personally, I would prefer toys to be left in the original condition ... while I don't "hate" that we have these as a collection, if I were left alone with them, some would be handed to our grandson's, but a lot of the collection would be sold off. I like them, just not enough to keep them for myself, and given the cost of some of these purchases, resale value is something to consider.