Don't count on it. Mine has loosened up very little. I'm going to return it for a refund.
I emailed Switcheasy about it anyway asking if it was a design problem with the case and if it will loosen up over time and they asked me to send photo's of it and emailed me back saying.
Switcheasy said:Dear Customer,
According to your photo attachments, we believe it is an one single product issue. However, we will send a new replacement of [CANVAS (Charcoal) For iPad 2] to you under your previous provided shipping address. And we will provide the tracking info to you once your replacement parcel is ready to be shipped.