Wrapping sticks doesn't take enough time or effort to have any kind of machine do it. It also isn't scrutinized closely enough to need machine accuracy. I wouldn't buy it or recommend it.
However, and on the other hand, you're totally on the right track! I don't know of a more cult-like instrument group than percussion. You don't see too many clarinet clinics and internet forums going on. But there seems to be a whole lot of percussion/drumming related community stuff going on all the time. If you come up with a product that makes the life of a drummer significantly easier, it will be bought and you will profit.
Bill Bachman's products are a really good example. He has a remote hi-hat, and a whole line of marching pads. The common denominator with his pads and his hi-hat are they fix significant problems drummer's face or offer something drummers could definitely use. So think about some things that you run into as you play that are problematic or something you feel would be really useful to a lot of players. Once you find something, invest in solving the problem. Taping sticks really isn't any kind of problem, so no one will buy something to fix a non-existent problem.
You're on the right track, think of some other ideas. However, wrapping sticks by machine is definitely a no go
