I always preface any M33 comment with "these are a minefield". I would love to hear the opinions of others more qualified but since no one has responded yet I'll direct you to this site for some basic information....
For what it is worth, I have not seen a wartime RSI with a stencil that large. Can't help much more than that.
My greatest fear is that one day I will die and my wife will sell my guns for what I told her I paid for them
"Don't tell me these are investments if you never intend to sell anything" (Quote: Wife)
Speaking from a position of having a genuine M33 (i'm no expert beyond that) I would say the color scheme looks a little odd to me and the Italian shield decal looks quite 'fresh' (similar kind of appearance to the fake Stahlhelm decals I have seen imo) the chinstrap looks good and it looks like your liner has the horizontal stitching - I'm honestly not too sure with that liner though. Overall, may be an original but refurbished?
I agree with the statement above: minefield. I see an original WW2 M33 (judging by details), but honestly I don't like the camo paint, nor the National shield. The liner looks correct, maybe a bit "aged", and the anchor shape and size could be consistent (many were hand made, with no official scheme), but seems too "clean".
Maybe someone more expert will leave its opinion...