This is a real original Williams S-52. Back in the late 1970s, TRW, the owner of JH Williams, decided to re-position the Williams line to be marketed as an industrial tool brand. In a series of sequential marking changes over the next several years, the "& Co," was dropped, the "JH" was dropped, the 'superratchet' was dropped (maybe because it seemed tacky and inconsistent with an industrial buyer's interests, or just to reflect its change in marketing) and also changed the lettering font, the final form of the markings is what you see on your ratchet.
JH Williams Industrial was sold off by TRW in 1984, after which it was re-named Williams Hand Tools (IIRC) in 1986. It soon went bankrupt, and its physical assets were sold off in 1988. It's still unclear what was actually being made between 1984-86.
When Snap-on bought Williams in 1993, all that remained was the intellectual property. It acquired only the name, designs, trademarks (including the "super-" moniker) and patents. Snap-on re-designed the ratchet, which is why the SO rebuild kits do not work in the original Williams versions. All Snap-on Williams are made in its own facilities, since all the original Williams tooling and equipment was sold off years before the 1993 acquisition. Snap-on let the Superratchet trademark die in 1996. It appears the only "super" retained for use is on the Snap-on "Super Combo" wrenches. I suspect the the 'Superrench' and 'Superratchet' names seemed gimmicky and weird because of the spelling. Since those tags were discontinued by Williams itself near the end, there was probably no incentive to revive them.