GPG pubkey and the Electrum pubkey are COMPLETELY DIFFERENT in format.

ELECTsUM must not check for the correct format, and somehow is generating a weird wallet... don't know how.

Contact the ELECTsUM developers and ask how the MPK is derived when an incorrect format is input.

Maybe they generate the master private key from the hash of the test if it's incorrect or something, you'll never know unless you ask them.