Gretsch is still it’s own thing, with its own history and own line of instruments (such as the famous 6120, White Falcon, Tennessean, Dou Jet and Country Gentlemam, among others) .
Basically, Gretsch has its own quirky vibe. FMIC could of course destroy that if they own them (I’m not up on the relationship there), but so far at least they haven’t. Im no big Gretsch expert (I actually know more about their drums than anything else), but it seems to me that last time I checked, they’d moved many of their less exclusively priced guitars over to Fender-style 25.5" scale length instead of Gretsch’s traditional quirky 24.6" scale length. I take that as a bid to be more popular (thanks to Teles and especially Strats and their descendants, 25.5" is the most well know scale length among guitarists), which isn’t inherently bad, but I also take that as a potential bad sign. Gretsch, being what it is, is only ever gonna be so popular. However, it’s very quirkiness, if kept, is what makes it unique and loved over the decades among those who want something traditional — but decidedly different. The short scale length also facilitates the big tricky chords and reaches Gretsch players like Brian Setzer and ol’ Chet are/were famous for.
Anyway, I might be wrong about them moving scale length on their less expensive models recently — Gretsch guitars have their own unique history and there are and have been all sorts of variations on some pretty similar-looking-to-me models over the years. Basically, Gretsch lore is a bit of a daunting study, and I’m just not into them enough for a deep dive.
Don’t know anything about their basses except that their Junior Jet looks like a somewhat intruiging (to me) short scale, due to its scale length, traditional look and very affordable price