Yes it the very edges of the case running down to the end of the lugs, there was a very small one cut on gens from the factory to stop the case being sharp and often this might get polished a little at services due to little dings on some, its just the BP GMT especially has overly shaped ones that cut to far in and then lose almost a mil on the lug to a polished surface. The chamfers were really only on the case with lug holes, and much less on the later 5 digits without lug holes, but BP seem to still cut them in, on the GMT's it is worse as I think they used an older model for the design spec that I think had larger chamfers (nicknamed the Sofia Loren, after here curvy shape) but there were not many made with that design, and i think this is where some of the more scalloped chamfers appear. they do look worse in close up pictures and are less noticeable in daily wear, apart from they tend to catch the light a little more.
BP cut Chamf on a 16710
Genuine 16710 Chamfer is cut much less into the shoulder
I think the Sub suffer less as they never really had the edges cut like that unless it was during servicing for a ding or the RSCA thought it need a polish and got carried away.
The look isnt all that a bad to the normal eye but leaves a lets defined edge. It wouldn't be so bad if the put in the lug holes as more of those cases had a little more of chamfer but nothing like BP cut in.
It just seems daft that BP are the only ones focusing on 5 digits models (which are really more attainable in the real world than the latest and greatest offer as most are double the price and hard to get hold off, so the 5 digits have more appeal, a little slicker on look too, but they fail on this minor little thing if they left it they would be almost perfect on first glance, under really close inspection not so much, I guess what annoys me more is this is something they actively do and not a limitation in manufacturing or parts, the case will come without them and then they cut them in when they dont need too. Ok rant over!