Well there are multiple types of molded paper inserts. Egg carton-type material on the cheap end, and that super smooth stuff that Apple uses on the other (these generally have additives in them - they aren't just paper). In terms of "premium"ness this sits in the middle.

Apple was using a cellulose foam mixed with a starch based biodegradable binder, one that was very slightly different from Paperfoam to save them money on licensing fees.

Now they just use 99% compressed cellulose with a few antistatic additives.

Even egg cartons look more premium than the pictures in TFA.