Never blistered, just an acute disposition to chipping. I have used helicopter tape on my bikes ever since (before riding, not after that first chip/scratch/scrape etc).
Mines one with a matte finish and the lacquer is peeling off everywhere.
There was a chunk missing from brand new where a factory label pealed off and took the lacquer with it
The paint underneath is very high gloss - I don't think that was flattened down before the matt lacquer is applied, it's a pretty cheap and quick paint job IMO.