First sight, I have same thought with you, but practice told me I'm wrong.
1. I tried to run `arm-none-eabi-objcopy.exe -F elf32-little --redefine-sym Faeai_model_init=F11 aeai.lib
` to rename one symbol.
Note: In above command line, I have to specify the target to elf32-little, otherwise objcopy will report error.
2. Then I found objcopy file can rename the symbol correctly, but also it updated the ELF file header.

The original library machine information is: Freescale 56800EX Digital Signal Controller (DSC)
3. After I changed the machine value back by manual, I still met linker error:

In summary, objcopy needs to know the ELF target format even just for renaming symbol.