Judging by all the NYC competitors that have cropped up, I would say it is not hard to replicate at all. The biggest benefit to co-working spaces is short lease terms and the ability to scale up(down) space. Foreseeable, this could apply to a new company or a company opening an office in another city. I doubt you would use WeWork once you are leasing 10,000+ square feet of space, but perhaps HQ by WeWork has merits. As a startup founder that has leased spaces from co-working spaces, the price, location and quality of the space mattered much more than the brand renting the space.