I've liked Apple's leather cases but only ever bought when they were on clearance. They fit well, felt great, and protected well, even if they weren't all that durable themselves (a couple times dropping a phone on its corner ended up with the case needing to be replaced... sometimes Apple would even offer free replacement).
I have no problem with Apple dropping leather, but to charge the same $$ for a clearly compromised product is asinine. People shell out bigger bucks for leather precisely because it is leather. If it's not leather, even if it's functionally better somehow, you look very out of touch charging the same price for it. Some car and furniture manufacturers have tried this with their seats, and I have never seen it pan out well in the court of public opinion.