Well, that's the standard box for ladies Omega models. And since the 38mm Speedmaster (especially that light blue one pictured) are marketed to ladies, it's probably the one that goes with it.
I'd say that's more elegant, not less. But I definitely would prefer the wooden box.
If you really want a wooden box, look on ebay for sellers out of Japan. I purchased one of the new boxes for my 1995 SMP that had no box. They cost around $150. I compared what I received to the boxes I already had (that came from AD's with new Omega purchases) and the box was identical. I compared every seam, screw, material, button, and font.
I think a lot of people buy new watches in Japan and leave the boxes behind either for space reasons or because they don't want to get flagged by customs and they don't declare the purchase.
That is the ladies watch box yes. It feels like it’s made of paper mache and doesn’t inspire confidence I know.
To be fair this is sold as a Unisex model. I know a fairly burly male representative at NATO who wears one. I’ve pulled his leg about it but he’s not bothered by a bit of ribbing about it as he loves the watch.
As much as I like the newer wooden boxes (they really are well built and pleasant to look at), they end up in the same place as the ratty red Omega boxes--on a shelf in my closet only to be brought out when I want to look at the warranty card or some of the documentation for some reason.