I’ve been wearing my Leatherman Ti Charge in the factory sheath daily for many months now, and before that I carried the PST II for many years with no problems wearing out. In fact, I originally bought an extra PST II sheath in case my primary one ever broke or wore out, but it never did.
I gotta admit some of the Leatherman sheaths do seam very well made. I had a bad experience with a nylon one. One of the reasons I make my own is I like to use a clip and I always add a keychain attachment as well too carry my keys around on.
BTW, Bramel I do like the looks of that sheath/pouch looks very sturdy and secure.