That peeling green case is disappointing for sure, but I believe that's the black leather base showing in that picture (which covers a plastic shell). A couple years ago, they switched from leather color stains to leather paint on black leather (not sure if stained black or just dyed during tanning). My lilac magsafe wallet has spots where the paint has abraded off and is showing the underlying black leather too. The leather quality seems good to me, but leather paint is going to wear off no matter who manufactures it.
Like so many others on here, if I do get another leather case in the future, I'll likely go with a leather stain style for attractive patina as it ages. I doubt I'll ever opt for pleather, as I'm trying to minimize my use of plastic. Caseless for now. Maybe I'll get a bamboo case. 😁