Mm, yeah, I don't know about that. 😏
You may be saying right now, "But Erin, it has a link to PayPal.Com."
YES, the links say, "paypal.com" but what you might not know about links is, you can call it whatever you want and link it to something else.
If you hover over the link text you will see the actual hyperlink sends you to a completely different website. MORE OVER.... you should never click links in emails. Is this the first time you're reading my security posts? Bookmark your accounts and only visit from your bookmarks. Do NOT search for your link. Do NOT click links in emails. PERIOD. There is one exception - email verification. But again, don't click an email verification link unless you are expecting one and even then, scrutinize it for red flags.
Side note, anyone notice, "Cuckolds INC" at the bottom of the email? This one thinks he's funny, he's not trying too hard to hide his phishing. Only panicked people will click without reading or examining.
Be sure to report this as phishing AND forward the email to the PayPal fraud department at: firstname.lastname@example.org