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I put steering wheel covers on all my vehicles back in the 1970's when they were skinny hard plastic wheels. The padded steering wheels today are just too fat with anything added to them.
It ain't just Ford. I have a 10 year old Honda and a 12 year old Tacoma in the driveway with damage to the top of the steering wheel. Once it is old enough to notice that there are enough character marks all over the vehicle that the steering wheel damage just isn't an issue. I say leave it as is.
When I got this '04 the steering wheel looked like who ever drove it wore brass knuckles all the time. From the 11 o'clock to the 1 o'clock position was shredded down to the metal. I found this sew-on cover at Pep Boys for like 12bucks. Used a small bit of foam and some duct tape as filler and the black cover blended in nicely. Took about 2 hours to lace it up but it was worth it.