For the I to Z, I'm not entirely sure, but it doesn't seem too ridiculous.
As for why it was flipped, it's because Phoenician was right to left, and Greek/latin are descended from it, but they are left to right instead. I guess the ancient Greeks/Latin tribes didn't bother just fixing the letters. They eventually catched up and flipped it later on, though.
Besides the sans serif modern (i guess to imply modernity) it's an accurate image. I honestly don't know why they did that, pretty much the same thing.
Yep, because Phoenician was a RTL language, but its descents are LTR. Later on, they flipped letters to match the direction, since it was uncomfortable to write letters from a right to left language from left to right.