Don't know nuthin 'bout no mystery switches..
BUT
If it's anything like my Korean P Bass:
A) Get it. Neck is FAST
B) Current Crop of Pickguards might not fit over your Squier pickup.
Cover Ears are too big.
And screw holes..
Hit or miss.
No problem.
Round file etc. New screw holes. Or newer style/standard pickup covers.
In my case, it gave me an excuse to get a replacement pickup & woah it was a new really good bass after that.
Choice is yours but if you're on the cheap I found an Entwistle PBXN Neodymium to be good. I put a Duncan SPB-2 in mine & use Stainless strings. Great. YMMV.
PS --I'm outside of Sacramento & MY pickguard was cracked, too..
In the same spot.
Must be a Sac thing