More often than not the pleats at the very bottom look pretty similar on all of the bags I have ever examined. I was lucky to find one (mine) that didn't have that, but now I have one small pleat that came undone towards the bottom, probably from having too much stuff in it, but I don't know. I took a piece of tape and put it from the good pleat on each side of the one that came undone to kind of force it back to where it should be. I did this overnight one night and yesterday morning it seemed to put the pleat mostly back into place.
The more unacceptable thing I find with yours is that the shoulder strap came that way! That is crazy!