With vinyl stripes, the life expectancy is less than paint theoretically. However the cost of doing painted stripes is far greater than vinyl. And with vinyl, they can be removed and you can reinstall a different color or width, style etc.
I spray painted mine with Grabber Blue I ordered online, and it came out 10 times better. Took about a total of two hours to mask with painters tape and give two coats of primer, three coats of blue, and two coats of clear. I would absolute not accept that piece as it is now.