1 a wrap is not about hiding paint, its about having a color/finish which would a) which looks different b) is not permanent.
and yes while its on there it protects the orignal paint on the car, which is exposed to elements. OEM paint does have its own charm indeed but when the paint is faded or scratched out or one is plain simple tired off looking at their car in the same color, a wrap is a much easier option then a paint job.