Its aesthetics aren't too far off from what you might expect from Teenage Engineering products.
The new 8BitDo Arcade Stick is a continuation of that evolution, with a design that echoes cues from the NES era, implemented in a modern, minimalistic way. Initially making what were essentially just very good, updated clones of classic Nintendo designs, they've continued to improve, with recent controllers like the SN30Pro+ and M30 standing out as excellent in their own right. 8BitDo has made a name for themselves in recent years, bucking the accepted 'truth' that third party controllers have to be low quality junk.