Ethene to ethanol: electrophillic additions involving ethyl sulfates
Yes, I believe you are correct. Water attacks at the sulfate containing carbon by an SN2 mechanism. You are also right that sulfuric acid is a stronger acid than hydronium (or protonated ethanol), which means that in solution the bisulfate anion will predominate. Often people (including textbook authors) will draw a mechanism that goes to neutral products. Most likely water will carry out the final deprotonation (especially given that water is the solvent).

Incidentally, most likely this reaction is self catalyzed, as one sulfate protonates another, activating the sulfate for SN2 reaction by a weak nucleophile.