While it's true that the VF-0 shares a similar although not completely identical transformation sequence to the VF-1, nearly every single part (head, chestplate, backplate, backpack, arms, legs, nose, wings, tails) is shaped differently enough compared to the VF-1 that you would basically have to resculpt the whole toy from scratch. Not to mention that the VF-0 is significantly larger than the VF-1.
Graham