DiabolusInMusic
Functionless Art is Merely Tolerated Vandalism
I think the clear coat is sprayed on after the shielding paint has been applied, so the shielding paint gets clear-coated too. I can't see any good reason to do it this way, but I guess it makes sense on the Fender assembly line.
Fender sprays their conductive paint over the clear. At least every post-2008 Fender or Squier I have worked on did.