I think your description is bang-on: it has slightly more gloss compared to other new back cards (I compared it via a yokohama pikachu back and a munch scream psyduck back), but compared to a JR glossy mew the gloss is not even close that a true glossy card
In the context of the card, it appears to be wordplay on the fact that the word "present" can refer to a gift you give to someone (in which case, it's pronounced like "pleasant") or the act of showing something off (in which case, it's pronounced like "prevent"), and the effect appears to be using both meanings at the same time
Treasure Cruise was frequently a part of fast aggressive strategies that might just want to reload, but without powerful enough cards to be willing to pay a premium for the selection Dig Through Time offered
Three cards have been shown in this new rarity: Pikachu, Mewtwo, and Mew
How does this box protect my graded cards