Although I have not installed one in our Sonata (yet). I have put them in every car I have owned pretty much. It will really increase the amount of air flow to your engine. Some people like it for just the sound, while others don't. You can hear the air rushing into the breather when you hit the gas. If you plan on any free flowing exhaust changes, it sure helps to bring air into the motor if the engine (air pump) is going to exhaust the air faster. And last but not least, they look so good.
And to answer the original question, no, it would most likely not do much. The best way is to build a true custom cold air intake. The product you are talking about would be more like a short ram intake.
if it can be made to fit, there's nothing wrong with using that kit. why you'd want to waste your time trying to do so i'm not sure....i'm also not sure what is available for the sonata so maybe no other choice?
if by 'panel filter' you're talking about using one of the K&N direct OEM replacement filters, i say don't waste your money. the only benefit is that you can reuse the filter. that's it. no performance increase, no better fuel economy. there isn't better FE with any performance part, but that's a story for another day.
increasing performance with air intake is a function of surface area of the filter available to draw in air, cross sectional area of the intake itself, reducing intake restrictions (like using mandrel bends on an exhaust), and location to get cooler/denser air.
the filter itself doesn't really enter into the equation. why? the % difference between filters for their restriction to airflow is almost nothing. far better off to increase filter surface area and overcome that problem.
I wouldn't trust Amazon on compatibility... The kit looks like its just a filter and some washers. You can just slap on a cone filter. Its much cheaper than $144, **** for that amount you can build your own CAI