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I don't ever wrap my brisket. The only time I wrap is when its time to rest. How many do not wrap? The color you see in the second pic is reflection from my neon signs.
I do both, I will wrap (paper) to speed things up from time to time (allows higher heat and a little steam action). But, it's not at all mandatory to get a nice moist brisket
My favorite might be butcher paper, on a raised rack in a full pan and then foiled. Though I've cooked more unwrapped briskets in my life more than anything. Pick you poison. Whatever you like. No wrong way.