I was concerned about that before purchase, but once I was able to get my hands on it, I noticed it wasn't the really cheap stuff that weathers from sunlight and tears apart when disturbed like old dried out window blinds, it's flexible vinyl with ~.046" thick pleats with a surface that appears to be impervious to all but the most aggressive liquids that have no place on a lathe.
I'm looking forward to the tool leather arrival, I've never liked the rubber like drape on the mill that doubles for both ways. A bellows strip would be perfect for the column portion.