Please look at the quality and design of the buttons, see the color of the jacket, the quality of the zipper, "Burberry's" logo embroidered on the back of the collar, and the overall pattern of this item.
The most important thing I like about this jacket is that check pattern of the lining is clearly visible through the yellow fabric - it is when "you do not want to tell you are wearing Burberry :)", but jacket screams BURBERRY by itself. :)
For vintage piece this jacket is in excellent condition. Not sure why label got such a wear, because fabric of the jacket does not show any wear. Collar is in in excellent condition, zipper is in excellent condition, armpits are clean and fresh, waist is very stretchy. Jacket smells fresh and clean.
I only see couple of really unremarkable faint pinky lines on some areas as pictured, but because check pattern is so visible through yellow fabric, it is impossible for the eye to catch that lines. I see couple of micro spots on the bottom of the sleeve/cuff (pictured as well), really nothing serious.