A very competent little stick, Nothing special in any way, just functional and comfortable. And cheap!
It's very similar to home sticks internally - a giant PCB with the encoder on it also connects all the buttons, there's a stick and a couple of tiny PCBs for the start and Z buttons. Nothing to it.
The mechanism is unusual, might be a Hori custom job?
There's nothing remarkable about this stick at all. There is also a Playstation version with a black base and different art on the face panel.