The "fuzzy" stuff is simply a lofted synthetic media. Much like synthetic media oil filters, it a "depth" media that flow better per square inch of media than cellulose and has lots more capacity (being a depth media, it hold contamination all the way thru rather than just mostly on the surface). Generally, it's a little more efficient as well. The bottom line is that it doesn't have more pleats because it doesn't need more pleats to have the same, or more airflow and capacity than a regular old cellulose media. Because it uses synthetic fibers, it's not effected by water either. Get cellulose wet, it swells and stops flowing.
The only negative I see here is the "Made in China" label. I much prefer products from our friends north of the border.
