Icici Sapphiro LTF

Just got pre approved offer for ltf sapphiro - accepted it in netbanking. The fact that icici ppl were calling and forcing me to take it really makes me feel like a massive devaluation is coming soon probably either in BMS or international lounge access. My application approval mail has the following :

Joining Fee: NIL+ Goods and Services Tax Annual Fee: NIL+ Goods and Services Tax (NIL when card spends are greater than Rs in the previous year).

Assuming this means card is indeed LTF ?
Does the dreamfolks card come in the card packaging itself ?
Read here that there is some benefit for activating and spending with Amex variant : 1000 voucher ? Can anyone elaborate on this