Hi there! It has held up great. No water marks, no cracks. Just some wrinkling from use that is normal wear. And even though I wasn't using it every day due to the pandemic, whenever I did go out shopping or to fly across country three times to be with my parents, it came with me! So it still had a lot of use, was in the rain etc. I do think the glossy leather of the past looked more lux, but the malleability of the current matte leather means it's not as stiff and not prone to cracks.
Thank you very much for the reply @LaDolceLaria! I have the Neverfull with the matte leather and was not sure if I should keep it or replace it with the older model. This helps a lot! Appreciate the help! Have a great day! Take care!