It's pretty clever, as the HD DVD add-on says "Xbox 360" on the side too.
Earlier in March we reported on leaked images showing what appeared to be a greatly redesigned Xbox 360 motherboard – rumored to be the "Valhalla" revision – that integrated the CPU and GPU into a single package. Such a redesign would presumably be able to allow Microsoft to shrink the Xbox 360 into a smaller, slimmer form factor.
While from first impressions, it does seem believable with its curvature, matching color and Xbox 360 typeface on the side. But those who have spent any amount of time with the Xbox 360's now-out-of-production HD DVD player will know better.