This is what fully painted Sonic looked like at retail. They used a big bubble card to keep the whole figure above the sticker/logo on the front (a good move, his red shoes are eye-catching) Keeping this bendy MIB is a good idea, they're both still super collectible. 

With this photo you can see they did a good job with all his spikes on the back, and also that the shoes are extremely detailed even underneath, with paint and textures.
In all both of the JoyRide bendies are really great figures to collect, painted versions or not. The Sonic is only held back by his eye-positioning and occaisonal overspray.

Photo by larryinc64

When seen from this angle, the eyes look rather normal. This is still a great bendy to add to your collection! 

Photo by Larryinc64

What's going on with this figure & its packaging? You can see 2 differences right away from the normal version of this Sonic bendy above. First, it says "Series 5" in the circle, not "Series 1" like above. Then, notice the base: it is red & not gray as it should be. The edge photo there shows you that it says "Sonic" on the base (so they didn't just shove Shadows' base in there--as his base actually was red (see above) as an accident, or to use up old parts)
Was this some kind of re-release on a later series? A box error, or something else? Series 5 was not released closely with series 1 (so it's not like a couple of months later)