@4midlife
The back panel is designed to sit a bit high in order to allow the tailgate to close without raising the back panel as with the G2. That's the need for the seals under it. Not understanding how the side seals are folding under. Under what? The seals lay on top of the side rail. Not sure what they are folding under or how. The drains help if you get debris or something that wouldn't allow the side seals to seal.
I've had multiple Bakflip tonneaus. All the previous ones were G2's and I got tired of people helping to close the tailgate with the last panel latched resulting in a wadded up seal. And it was a 2 handed operation. This MX4 eliminates that. I actually have the Mopar branded version but it's basically a MX4.
Sorry it doesn't meet your expectations...