Yes, wraps can hide the identity of the signer from the relay too. But that doesn't mean the relay doesn't know who they are. The relay can see all filters and can guess really well who is asking for that data from that IP and use that to guess who is the owner/signer of the GiftWrap.
nostr:npub12262qa4uhw7u8gdwlgmntqtv7aye8vdcmvszkqwgs0zchel6mz7s6cgrkj might add NIP-42 AUTH to make that more clear. The signer of the connection doesn't necessarily mean that it's the writer of the GiftWrap. But it can always be guessed by the relay.
Relays are always trusted services for authors. They know everything coming out of your machine.