As someone who enjoys mostly full grain leather vintage and also interested in lines from the late ‘00s, I find it interesting and give
Coach credit for mixing it up. If is really appeals to you, I say go for it. YOLO.
But as said above, it is reminiscent of what other designers have put out. Like a retro vibe. But this is not new for Coach (and other designers). If you are familiar with vintage Coach, you will see how over the past 5 years or so, the designers have used the good old vintage and not-yet-vintage elements to inspire designs. Nothing wrong with, just calling it what it is. And hey, if it made money in the past, expect it to be trotted out again.
So if a design feels vaguely familiar, this may be why.