By RAW, it works. While the words
Semi and
Partially are not synonyms...the 1 minute duration of Illusionary Reality covers the
Semi verbiage for me.
The much longer duration of the Simulacrum spell, covers the difference for
Partial.
If one elects to treat the effect, as similar to a Creation spell, material components are out of bounds, then. Which is not an unreasonable ruling.
Since many players would not dare to venture to be an Illusionist a Wizard, for fear that a DM will nerf their ideas...how many 14th level Illusionists are there really,
in the wild? (aka in play)
I see Abjurers and Diviners, aplenty, but tight sphincter DM rulings, makes many a player not even attempt illusion spells.
(Not, that such ignoble sphincter designations, would apply, to
any august poster on this board! )
Given that people, commonly state that material component costs are insignificant by 14th level. Something, that saves role playing a shopping trip, might easily get my seal of approval.
Especially, if we have limited time to play before someone has to pick up their children.
Being able to jump into the meaty parts of play, faster, is one of the perks of being high level.
In my opinion, at least.
I love 5e Illusionists, best iteration so far, methinks.
