Well, I wouldn't say the paint "peels off". That would imply that the paint and prep of the surface below it is faulty and improperly applied. It's more that it's being rubbed through by your boot. Especially since the swingarm moves up and down with as the bike moves. And it's not powder coated. It's paint. Powder coat would be much more resistant to this.
Easiest thing to do would be to get different heel guards that help keep your heel off that area of the swing arm. Or try adjusting your foot position so it's not in that area when you foot is in position (most people have a preference on this though). Additionally, the 3M paint protection is probably not sticking due to the course surface. Has nothing to do with the paint below. But you could try prepping the surface better with denatured alcohol and be sure there's no dirt or grease when applying it. Other options include hard swingarm protector covers as you've noted, or get some color-matched Colorrite touch up paint to re-do it.
And it's not specific to the G5. The G4 had the same issues for some people. Not me, but some other people.
Easiest thing to do would be to get different heel guards that help keep your heel off that area of the swing arm. Or try adjusting your foot position so it's not in that area when you foot is in position (most people have a preference on this though). Additionally, the 3M paint protection is probably not sticking due to the course surface. Has nothing to do with the paint below. But you could try prepping the surface better with denatured alcohol and be sure there's no dirt or grease when applying it. Other options include hard swingarm protector covers as you've noted, or get some color-matched Colorrite touch up paint to re-do it.
And it's not specific to the G5. The G4 had the same issues for some people. Not me, but some other people.