Wow looks like they really nailed the phone wallet with this one. Can't wait to get one.
It's been my experience with a lot of other wallet cases that the edge around the flash is too bulky and causes the flash to reflect back into the photo, washing everything out. My guess is that they added the cutout to avoid this effect.
Was looking forward for this case, and while it still looks pretty amazing it's just too thick (20mm). And why they leave the top edge of iPhone 6 open like many other? Can't see a reason for that.
It's been my experience with a lot of other wallet cases that the edge around the flash is too bulky and causes the flash to reflect back into the photo, washing everything out. My guess is that they added the cutout to avoid this effect.