while these are cute, i would guess that you've probably never actually tried on or felt a s.w.o.r.d. jacket, otherwise you wouldn't have made the statement that they're overrated. the price is not only for style & design, it's also for the quality of the leather. If you feel the leather used by guess/bebe/A|X, you'll find it's not nearly the same quality as the type used by s.w.o.r.d. or mike & chris.
both types have their place in a wardrobe, but don't knock the high end 'til you try it, especially with leather. i've found the bomber/moto style jackets to be a very timeless style (i still have the very first motorcycle-type jacket i purchased 10 years ago, and i wear at least every other week, often more).
the difference between the 2 price points is lasting power; the guess jacket will start to crack after a couple of years and that type of leather doesn't age well. in contrast, the softer but more durable leather used by higher end brands will eventually mold to your body shape as it ages, acquiring that coveted buttery-soft, vintagey, made-just-for-you appearance.
so if you're looking for a "trendy" leather jacket to wear for a couple of seasons, by all means go for the guess styles; i've purchased my fair share of those, and they're definitely the way to go for the more faddish styles that you know will only last a couple of seasons. however, if you're looking for something to wear for years and years to come, splurging on s.w.o.r.d. or something similar is worth it in the long run.
my first-ever leather jacket, purchased in winter 1998/1999, photo taken July 2008:
s.w.o.r.d. gold leather bomber: