In a post on X (formerly Twitter), Kosutami explained that Apple has stopped production of FineWoven accessories due to its poor durability
Sorry cows, your skin is simply too good to not wrap our metal devices in.
The company may move to another non-leather material for its premium accessories in the future.
On second thought, it's very unlikely Apple would ever go back to leather. My guess is FineWoven quietly disappears and isn't immediately replaced with another "premium" material in 2024.