Correct on both counts. If you want to do a high quality wrap job, I recommend finding a nice wrap from someplace such as Precision Drum (great company) and doing it right.Hard to tell from that little picture what it really looks like.
Unfortunately, I think the only way to rewrap it right is the hard way. Strip the old wrap and put on some quality replacement, glued to the shells. But if you did buy it already, I'd suggest trying a small piece first to see if it's easy to remove, if you decide you don't like it.
I also wanted to say that I love the question on the Ebay page:
Ebay said:Q: is this stuff shiny?
A: Hello; Yes, it has a glossy surface. Thanks, Dennis