If leather was synonymous with high-end cars I would see your point but a $25K Hyundai has leather interior these days and a $280K Ferrai 430 Scuderia doesn't. So having leather doesn't make an interior/car look expensive anymore than not having it makes an interior/car look cheap. Especially this cloth. In fact IMO the stitching actually adds more character to the interior.
I might be in the minority with this point of view but honestly it is how I feel.
Current: 2015 F80 M3 (SS, Full Black Interior, 6MT, LED, Adaptive, 19's) - On Order - 10/28 PCD
Previous: 2013 E92 M3, 2013 F10 M5, 2009 E90 M3, 1998 E36 M3