There is actually a HUGE variety of wraps being made, but many are "special request", meaning they are spec'ed and designated for specific manufacturers. The reason you won't see some old patterns is because of limited request. Despite the fact that Blue Oyster is a coveted finish, it is a fairly narrow cross-section of drummers that actually desire it, therefore it will not be pushed into development. Colors like Burgundy Sparkle and true Pink Champagne, by contrast, are currently special request finishes that were spec'ed by Gretsch.
As far as quality goes, most older wraps were cellulose acetate or nitrate, both very unstable and prone to shrinking, cracking and fading. Dyes were different too. They were less stable organic aniline dyes, rather than chemical dyes now used. They were changed due to many reasons, the least of which is that they tended to fade prematurely. So, along with the material change came a slight change in look, but the QUALITY is actually miles ahead of the old stuff, because it won't dance around and change it's colors while on your kit. I think it is an equitable trade-off personally.