Unfortunately this won't make a dent in their bottom line. They'll still sell tons and tons of their stuff. Likewise, making good on this coupon will unlikely make a dent in their bottom line either, so why piss off a bunch of people who likely will be return customers if they honored this discount?
I've always like the look of the Edward Green Dovers. I know AE makes something that looks similar to that, but I can't think of the name off the top of my head. It's certainly a more casual shoe than a balmoral, but it's mighty fine.
Because Kanye West and people of the like is their targetted audience. They're not competing with the John Lobb's and Edward Green's of the high end men's footwear world. They're competing with the Rick Owens, Alexander McQueens and D&Gs of the fashion world.