Should T595 Exhaust Be Bandaged?

Depends what look you want
I had an 09 Speedmaster that I wrapped the exhausts on
Did them in black wrap and I thought it looked great
Was constantly dabbing them with heat resistant paint to keep them looking good
But it was easier than keeping them polished

 

It's there to increase the heat at the header which increases flow through the exhaust the quicker you get it out the quicker you can get it in but it's not wrapped from standard like @dilligaf said personal choice

 

The main reason for wrapping is to keep exhaust heat in the pipe and protect other components from radiated heat. I guess there's also the cosmetic reason if you think it looks good. I wrapped the pipe on my Husaberg as the whole engine, frame and exhaust setup is very compact and the pipe runs very close to everything else including the plastic petrol tank. Looking at your pipes I'm guessing that's why they've been wrapped.