That tiny fan is efficient and quiet. I purchased several other brands of similar cooling heatsinks with a built-in fan and they were too loud. So I have physically tested quite a few of these in order to find the best solution. Right now the ambient temperature in my room is about 21C. My MP700...
Yes it is hot, but Phison should have mandated a good cooling solution. I also tried a standard M.2 SSD heatsink without a fan which didn't work well. You really need that M.2 SSD cooling fan.
I was one of the first adopters of the Corsair MP700. I noticed it was very hot. I bought this cooling solution which works very well and doesn't have a loud fan.