It's a good idea. I think it can be more useful to use
Loctite Super Glue Gel. It's easier to bond something in tight places and it's waterproof. Or it's enough to use spray adhesive?
Ah, time for a little bit of ranting on glues.
For starters, just like I don't use (or suggest anyone else use) one lube for all things, or random lubes like motor oil for guns, I don't have one fallback glue. They have different purposes and capabilities.
I used not "spray adhesive" but (I think) Camie 378, as it's got good performance, but also is very safe. Specifically designed to not melt foams, it also means it won't maybe melt the substrate like the holster plastic. Spray is the delivery method, adhesive is something else.
Also, fabric and foam adhesives are designed to stretch and flex in use and as conditions change. Superglues are for very different needs. They dry very, very rigid, so only really work on rigid substrates. Ceramics, smallish steel things, and some resins work well. For other materials, they tend to detach over time and you end up with a sheet of cyanoacrylate resin, and two flexible but not-attached things.
I’ll just say I’ll never order a wrapped one again. It doesn’t stand up to heavy use.
I want details. What sort of failure did you encounter, over what sort of environment/timeframe?
I did the original wrapping – and subsequently ordered one wrapped – for the same principle as a helmet cover, to slightly reduce the shine and noise of sticks and so on whacking against a hard plastic thing. But... I don't wear mine as much as most of you all, so if it wears bad, thats good to know and pass around.