you are correct, TABLE_EXISTS_ACTION set to REPLACE will replace any existing table BUT would not replace views, sequences and/or PLSQL objects. You have to drop them if you want the new version to be imported.
Disclaimer: Advice is provided to the best of my knowledge but no implicit or explicit warranties are provided. Since the advisor explicitly encourages testing any and all suggestions on a test non-production environment advisor should not held liable or responsible for any actions taken based on the given advice.
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