That's very true, MK does make a lot of PVC handbags, of which many are the Jet Set totes, and when they use PVC, it says PVC right on the price tag. When they use saffiano or pebbled leather, it states that as well. I've always preferred their genuine leather over the saffiano as well and have never been a big fan of the saffiano. I've also notice their saffiano bags are often much cheaper in price compared to their genuine calf or cowhide, and much like yourself, I always suspected saffiano was cut with something, until I really looked into it and found it's really not cut with anything at all, it's the way it's treated and compressed, and then coated with a wax.
Here is an article explaining exactly how it's made and it clearly states it is a high grade full grain leather that is used and none of the research I did mentioned it was cut with anything, so my suspicions were wrong.
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https://www.aspinaloflondon.com/landing/what-is-saffiano-leather#:~:text=Saffiano is a textured leather,exceptionally easy to keep clean.>
I own both a Prada Double Zip Saffiano Satchel and an MK Selma in the Saffiano, and note absolutely no difference in the quality of the saffiano, they are exactly the same, and did you know Prada is also Made in China now? lol! Coach calls it cross stitch , rather than saffiano.