Agreed. I would hope they could eventually be made in a spandex blend so they retain major elasticity like that.
My only take on the print is why is it block lettering and nothing like the website logo? Sure it spells out what you need to know, but branding is all about familiarity... so consistency of color, font and maybe even the graphic would help. In either case, Lilly is right, the text should be smaller (which is probably actually more readable at a typical distance).