I think the Ethiopia set is definitely worth more than the glassine it's in. I don't remember exactly what I paid for my set, but I'm pretty sure it was around $1.
The preprinted glassine envelopes date back to the day when approvals were commonly sent out and the very reason why the glassine envelopes were preprinted with information about the stamps, is that the glassine envelope packets were prepared in very large quantities containing the same stamps. The stamps typically sold through that means were usually quite common and will likely never appreciate in value all that much.
On the other hand the glassine envelopes, with names such as Ideal, HE Harris and Jamestown Stamp Company, who were some of the leaders in the stamps-on-approval business, has a following with those collecting stamp-related ephemera.
Also as a word of caution, those older glassine envelopes are not very good for the long term storage of stamps, as many of them were made before acid-free qualities were incorporated in the envelopes and could potentially damage the stamps after long term storage.
I'd certainly keep both the stamps and the envelopes, but would suggest you either mount the stamps in an album or place them on a Vario or stockbook page. I'd also keep the empty glassine envelopes, as there may be collectors who are interested in those, too.
Judging by the discolouration of the almost certainly wood pulp glassine it looks as if its degradation is well under way. I'd get the stamps out, whatever you decide to do with the glassines. Personally I'd toss them. Certainly wouldn't let them anywhere near an album.
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