It looks very much like the "fake" Apple power supplies (one or two transistor flyback), though not misleadingly labeled and bare for anyone to look at the details (and nicely priced, and not needing "decasing.")
It doesn't look like they'd come much closer to meeting safety specs. I love the "fuse" implemented as a squiggly little trace on the PCB (clever and probably effective, but probably not "legal.")