Somewhat, although not as bad as it looks in the pics, now that I look at them closer. And keep in mind that these were taken immediately after I got it, and had just taken it out of the box after a trans-Pacific shipment.
However, I just looked at the seat again, and those have mostly all smoothed out. I'm assuming (at least at this point) that some of that was deformation from the packing in the box, and some may have been done on purpose to give the cover a little "give" room? I'll report what I find as I get more seat time in on it.
And to be honest, this thing is so comfortable, AND improves my leg room so nicely that I could - almost - not care less how it looked!