In college, my aunt had bought me a low-end Hermes wallet. That piece of shit fell apart in less than 2 years.
Now I rock this:
https://www.bmfwallets.com/
It was only $22 when I got it 12-13 years ago. No fraying of edges or anything, still in great shape just broken in. If and when it starts falling apart, I'll just buy another one.
I can't imagine spending the amounts some of you are talking about on a wallet.