Leather has to be a uniform color, and the finest leather is flawless. All those splotches and discoloration wont work.
If they can do that, it will be a huge advantage...flawless leather substitute for a tiny fraction what it costs to pamper cows so their skin never get damaged while they grow.
Even if it's a byproduct it's still more expensive than this, and good leather even more so.
There actually is a lot of importance to whether leather is flawed...you ever seen dress shoes with a big barb wire scar on them? or a leather couch covered with insect bite marks?