$75 for two pieces of material with 1 stitch. Holy cow.
I can understand $20, but $75?!?!?!?! WTF?
It looks more like 4 pieces of material to me, -two pieces of leather on top of two pieces of wool.
Of course real leather and wool are going to be more expensive than a manufactured piece of neoprene

Plus, this is a handmade item, and when you factor in the labor it takes to do yourself verse sourcing large production quantities out to India or China, you'd realize that the creator of this is not getting rich off them
You're getting an item constructed of finer materials and handmade. That being said, it still has to compete on price and functionality against everyone, -including sourced cuts of neoprene, and that's fine. I personally went with the handmade case by Pack & Smooch, not cheap at over $80, (just enjoyed the design a bit better, to each their own), but Jolie's case was my second choice. I liked the simple elegance of a wool lined leather sleeve, and I like how you can customize and choose your colors of leather & wool. For me personally, if I'm paying a premium to Apple in part because of their design, I'm going to spend a couple extra bucks to wrap my Air in the sleeve most to my liking aesthetically, -why skimp there?
Like I said, to each their own, but I don't believe that the price is inflated considering the labor costs and materials used, maybe not *competitive*, but certainly not inflated.