I guess they have placed the "Standard" Fenders below the Player's and above the Squier.
So if I got this right:
Squier - batch build by lowest bidder anywhere, usually China
Standard - Indonesia
Player's - Mexico
Custom Shop - USA
From the reviews I've seen the quality on the Standards is pretty low and about the same as Squire - ceramic bar pickups, cheap knockoff Ping tuners, circuit board switches, etc. Other than they say "Fender" on the headstock pretty much the same as Squier but maybe not as inconsistent. Others have said they are overpriced for the build quality.