In general, the folio style is a good choice for some smartphone users, if we don't need heavyweight protection, and especially for the benefit of being able to stick cards, paper, money, etc., into it.
When I compare this $50 leather Nomad case to the $8 vinyl one I have on my Note3, the cheapie comes out the winner in many ways.
The point of these cases, as I said, is to be able to stick, say, three business cards, a Starbucks card, driver license, and a couple of receipts, say, into the pockets. I put about half of what was in my cheapie one in the Nomad, and it still doesn't really close! Furthermore, the cheapie has a magneted flap closure (which I admit can get in the way sometimes) which helps to secure it. So functionally, the cheapie works better.
The Nomad smells nicer, and I can charge my phone without taking it out of the case. I'm hoping that as it breaks in maybe it will close better.