Nice clear pictures thank you.
As to the "Steaming turd of the worst of Chinese Junk", well, that is not exactly good.
On the plus side, it does switch both line and neutral wires, and the wiring is such that the switch marked 110/220 does indeed switch the output voltage between 120V and 230VAC. There is actually a functional eathing connection from input to output. Those are the only good things.
Negative things are:
Incoming live is connected to the output socket neutral, on the "Chinese Socket that fits all mostly poorly", and then the line connection is switched to either 110VAC from the transformer centre tap or the mains neutral. Thus either the wiring is swapped or your 110V device is floating on 230VAC at all times. Any power switch on the connected device only disconnects the neutral, leaving any fault that is a breakdown in insulation free to expose you to the full mains voltage.
Distinct lack of any fuse, aside from that comprising the incoming wire and transformer windings. At least those look like they are going to handle 600VA and not burn out, and they might actually be copper wire, not CCA as used in most cheap appliances.
Suggestions on fixing it to be a little more safe are:
Remove the 120/230 switch, and replace it with a fuse holder with a 5A fuse instead. On the output socket remove the blue and yellow wires, and solder the blue wire to the N connection on the outlet socket. Connect the white wire direct to the socket L connection. Join the 3 blue wires, and insulate the join, or use a WAGO connector which does the same thing. Connect the yellow wire from the transformer to the fuse holder, and the other terminal of the fuse holder ( preferably the one most deeply recessed) to the yellow wire from the on off rocker switch.
Close up, put in a 5A fuse to fit the holder and it will be a lot safer. Use some heatshrink sleeving on the soldered connections like originally used to protect them.
At least this is not like the first voltage converters I used, which were symmetrical, having a US socket outlet on each side. One side marked 115VAC and the other marked 230VAC. power was supplied using a short power cord, one end having a EU spec 2 pin plug on it, to plug into the wall, and the other end having a 2 pin US plug on it, to plug into the appropriate side of the converter. Mains voltage on 2 fully exposed unsleeved metal contacts, and as a bonus they would either float at 115VAC above ground, or at 230VAC above ground, and you could plug them in backwards, giving you a 400VAC output for around a second till the smoke came out in copious quantities ( I did this), and as a bonus they came in a plain white box, absolutely no manufacturers name or markings on the box, and only 2 sticky labels on the steel sides ( did I mention steel exposed transformer with no ground either) that would fall off in short order. Only manual was a tiny strip written totally in Chinese, with a singlr line of characters on it, and no images at all.