Yup. Whole keycap is the legend color, then reverse dyesub dyes the darker color on top of that. When it's cheaply done, the lighter color is visible through it, typically on the sides.

I've got a NicePBT Elderberry set with the same issue (pink color coming through dark purple) though it doesn't look quite this bad.

I guess you've never seen a reverse dyesub job where the color underneath is coming through because of how thin the reverse dyesub job is, but that is what you are looking at (I have a set next to me with the same issue). It is not dust, but there is also dust on there.

Nope, that's poor dye-sub on the sides. Dust is also there, but I was referring to the poor dyesub job.

Jesus the sides of those clones are brutal

Sounds like the kind of dumbass bullshit Rama would do.