Hmmm...while not a mod I would do, I think if you painted it black, people would hardly give it enough of a second glance to be able to complain about the aesthetics...or tell them it's a new age carbon fiber/uranium weave that's still in prototype phase. Either way I don't care what my bay looks like either. It usually just looks filthy.
Maybe I skimmed over it, but is it also sealed underneath, or only on top? It seems like having such a flexible material to use as an airbox could be useful for channeling the air from any source you wanted. As long as your custom air container is a large enough size...there should be enough of a volume of stagnant air in there to supply the sudden vacuum when you slam the throttle.