I pretty much felt the same about the 'lack of' need for fret wrap. I've been playing for just over 40 years and good technique has always taken care of unwanted sustain or harmonics; but I do like the different tone you can get from using a mute. Luckily my old Stingray (1979) came with bridge mutes that you can lift on to bottom of string, Jameson style. I find they are great for slap, which I do relatively little of compared to many modern layers, as I prefer the less is more approach of Larry Graham; I also find they sound great for Country style bass. I hope that people using fret wraps so much these days don't get lazy on technique, as this is an important part of sounding good, and sometimes you want the full sustain of not using a mute, so will need that technique then to control the sustain, and for dropping in ghost notes.