the paper shield does not inspire confidence
I can see a reflection of the adjacent components so I suspect that is some sort of plastic insulation rather than paper. Or maybe it is plastic coated paper. Either way, your point about inspiring, or not inspiring confidence seems valid to me.
It seems that insulating layer was added to the design as an afterthought. If you go back to the original image on the Amazon page, and look at the magnified image of that picture, the assembly techniques appear to be shoddy all around. There is a little black hook on the right side of that insulating layer they simply dabbed (and not very carefully) a blob of black paint (or some sort of black adhesive) on - expecting that to hold that layer in place. But then they became aware that that was not enough so secured it with a blob of hot glue.
I will note that supply is marketed for its "Compact Size" which might explain why the internals appear to be very cramped. That said I have to wonder about their math skills too as they claim,
"At just 140mm long, the GN-650 Series offers great flexibility in build configurations"...
...then they show the length to be 5.9".
5.9 inches, according to my fingers and toes carry the 1, equals 149.86mm - but who's counting?
Yeah, I can imagine those caps bulging in a couple years due to, among other things, initial quality and lackluster cooling.
That said, it does come with a 5 year warranty which, for a budget PSU, is not bad.
OF COURSE, a longer warranty does NOT imply higher quality but it does suggest the company has enough confidence in the PSU to gamble the vast majority will last at least 1,827 days (factoring in 2 leap years).