First, it’s a machlokes whether it would be in the category of muktzeh machmas gufo or kli shem’lachto l’issur (in which case tiltul l’tzorech gufo would be muttar and the only issur would be the tearing, which as you mentioned, could be reduced to a d’rabbanon if not torn on the perforation, but in fact it doesn’t need to be torn at all).
I think that since it’s primary use is one which would be muttar for kavod habrios, it might not be muktzeh altogether. I’ll bl”n look around and see if any of the contemporary seforim discuss it.