I got this item today and it came in perfect condition. The microSD card itself comes in a little plastic case which sits in the branded cardboard packaging. Originally, I was going to get the unbranded Sandisk alternative but the priuce difference wasn't too significant between the Nintendo licenced option, at least for the 256gb. It's worth noting that you get 238gb of usable storage once inserted. The card itself is pretty cute. If you want this for the design itself, it's probably not worth the price given it will sit in the microSD slot for it's entire life. In Australia, this item has a lifetime warranty as long as you register the item with Sandisk whilst the unlicenced have less warranty so that's worth keeping in mind. FYI when registering, it comes under the microSDHC > Extreme > Nintendo Switch category. When you register the card, you will need to read a VERY small serial number on the back of the card so make sure you have your glasses or someone with good eyes because it is in tiny writing.
Overall very happy with my purchase! the price varies significantly (up to $50) between retailers so make sure you check with other retailers including Aussie retailers like Harvey Norman etc who also sell this product.
UPDATE 10/6/21: I don't have any issues with this card in my Nintendo Switch....I see some other reviews mentioning no adaptor or that the switch doesnt recognise the card. I haven't has this issue at all and it's been working perfectly since I received it over a year ago. Perhaps a new switch software update rectified this issue?