I own a leather motorcycle jacket I've abused for 20+ years that is none of those things, and it wasn't particularly expensive. I've repaired some loose stitches and rub some leather balm into it twice a year.

Yes: garbage quality leather is crap, and most of the "fast fashion" items on the market use trash leather. But decent quality leather will last for decades if you put a minimal amount of care into it. It's relatively easy to maintain and repair too.