It is hard to know what the deal is here- I asked why so expensive for the 38 and the SA volunteered that the regular tote without the cartoon is 695 and the difference was for the graphics and possibly being limited to this season. Just someone's opinion but clearly, we are paying for the exclusivity and unique design.That extra $300 is probably justified given the embossing, but might be due to the larger size of the item. A larger tote uses more leather. I think that inner pouch is bigger too on the 38 vs. the regular sized tote.
This is probably seen as a similar strategy to the price difference of a Rogue 25 vs. 36, for example.
I am on the fence about the bag- it is beyond adorable but I am not sure what I would use it for. It seems to fill the "LV Keepall" niche- a weekend travel bag. I do not really need it from a practical standpoint. Trust me this has never stopped me from splurging on something ridiculously adorable like this in the past but for some reason it is making me think first.