Definitely return. That’s not acceptable. This is definitive proof that there’s no difference in quality with MiF vs. elsewhere. That should mean that standards are as high in Spain, Italy or the US as in France but unfortunately it means there’s as good a chance quality will be poor regardless of what the label says. Return and don’t settle for one that isn’t in the condition you’d expect, regardless of the country of origin.
My question is though won’t a new bag also have the leather split/peel at some point just like this one?