There's a bit more to it than just stitching - the kit includes double stick tape to keep the cover from sliding on the wheel, and at least on my truck, the process of tucking the cover in around the spokes was challenging, because the gap is quite tight. But, an hour or two later, the results are great.
The kit also includes about twice as much thread as is necessary. I stitched one way, skipping a stitch on each side, then doubled back and did the other half of the stitches in the opposite direction, so I used as much thread as possible, and still didn't touch the second little spool.
The material quality seems good to me - it's about 1mm thick, and added a little bit of thickness to the steering wheel overall, which in my case takes it from a relatively thin early 2000's steering wheel to something a little more modern.