You know the Packaging Waste (Producer Responsibility) Regulations aren't working when a memory stick comes in a container like this. It may be that Amazon equipment can't handle anything smaller.
On the other hand, it is recyclable. If it was in a small plastic bubble-protected envelope, then it would have less waste but not be recyclable.
Maybe there's scope for the Packaging Waste (Producer Responsibility) Regulations to be changed to have a weighting that encourages the use of recyclable materials and penalises plastic.