It's supposed to look like a passive PFC choke. Real PFC chokes wherewere common in the early-mid 20002000s. ReplacedThose were replaced by active and lighter counterparts on more recent power supplies.
Worst passive PFC knock-off I hearedheard about from my friends in China was that the customers associated heavy weight with PFC chokes, so the manufacturers put a large stone in each non-PFC power supply and marked it with PFC. Then the customers complained that there was a rattle from the power supply to they "improved" quality by wrapping the stone in newspaper to cushion it.
More examples from the interwebz: