For a theme or plugin with extended functionality to be sold as a new item in Envato Market, its primary purpose must be different from that of the standard theme and have had significant enough additions and modifications to constitute being sold as a new item.
The Review team will determine whether a theme variation meets the necessary criteria to be sold as a new item.
"Lite" variations of WordPress themes and plugins are not permitted on Envato Market.
However, Envato authors of WordPress themes and plugins are permitted to offer lite versions (a version with reduced/limited functionality) of their exclusive themes and plugins for free on wordpress.org.
For more information about being an exclusive author, read the Exclusivity Policy article.