2¢ worth of thots: the "blue" anodizing might be previously black that has faded (more common to see it go to bronze-brown or purple but both green and blue "faded black" dyes are seen)
I assume since the logo is the "Winged C" that the plastic insert in the front off this otherwise "normal" R-1 stem has that logo rather than the earlier CINELLI spelled out in sans-serif caps: true?

The curious detail is that triangle with what I interpret to have a very stylized blurred (by extreme speed!) cyclist racing downhill in front of some snow-topped peaks. Never seen it before but somebody considered that the most important thing to have on this stem, after promoting Cinelli!
Some team famous for death-defying high speed descents?

Is it "mitered" into the stem metal itself (as it appears) rather than a "metallic sticker"?
Can you tell if it's a different metal than the aluminum alloy stem, and if so what metal?