Hello, @narockshard

No need to worry about those weird little "threads" next to the edge paint on your straps, just pull the loose "threads" off, you will do no harm. I have encountered this with bags from different brands. I was initially concerned but discovered that whatever part of the production process these threads are a result of, they do no harm when stuck or loose.
Concerning the rubbed off surface on the corners of your bag: This will happen to ALL "sharp" leather corners unless one is always very careful. So I am sorry but it is sort of your own fault, even though you never intended it to happen ...
Please do not get me wrong, I am not blaming you or criticising you. The vulnerability of leather on structured bags is the exact reason why I, for daily use, choose soft bags with rounded corners. And why I use Fenice leather protector on my bags. Alternatively, one can choose leathers with a plastic coating.