I'm not American and I don't live in the US, but very generally speaking if I was offered 2 otherwise identical looking items I would prefer the one that said 'Made in USA' or 'Made in Italy' over one that said Made in China.
Nan can clear this up but if I remember correctly he said that finding manufacturers for waxed canvas bags in the US was an issue. If that's the case then you can't blame Everlane for making this in China.
Made in China does not by itself mean that it's of inferior quality. One of SFers all time favourites are made in Macau - APC New Standards.
I assume the design and quality on Everlane's weekender is better than Target's $25 or Topman's $40 weekenders. Is $95 good value for the weekender? I haven't seen it in person so I don't know but the people who have seem to think it's a fair price. I do wish it was made in the US though.