Ecactly. In reality - the finish was Jaco tribute sunburst, that i hate. I removed it with a knife and refinished "black....red rain drop" with a flomaster. I like it.
If they really changed elite to ultra it's damned bad. I had only one chance to try out an elite jazz bass at a local shop, it sounded really good, but the price was very high. After 2 years they put a 25% money low and someone bought it.