I don't think Louis Vuitton is trying to achieve a distressed look, I think that is a cover-up for bad quality. I wanted to buy that wallet and cles for the design and tradition of Louis Vuitton, but after hearing so many complaints about the actual design chipping, fadding and falling off, I doubt I will. I agree that after that short of time, something should be done. Although Louis Vuitton is trying to keep up in the ever-changing fashion world and can't service your wallet any further as they don't make them anymore. You can have Louis Vuitton paint over the damage though; that's always an option.
Actually, LV will not paint over it. Again, I don't understand why people do not understand it is not bad quality or bad service, it is silkscreen. It is what happens to any silkscreen. It is addressed in the care booklet and by common sense. Treat it correctly and understand it will happen!