To be fair, the product in itself looks very nice, is well conceived, and its overall quality is good. To me, the main problem is that it is overpriced. It also has small imperfections (e.g., it makes the on/off switch of the kindle difficult to activate; the four elastic threads that holds the kindle are not very good and depending on how they are adjusted they sometimes obscure the corners of the screen; the outside pocket is tiny and more aesthetic than functional).
Another, more surprising thing that disappointed me is that the product I received was VERY SMELLY. It smelt some kind of glue, acrylic paint, or something like this. It smelt so much that it made me sneeze.
To reiterate, this is a good product that in itself would deserve 5 stars, but its price, and surprisingly its smell, make that for me it is not worth more than 3 stars.