A lot (maybe all?) of the Brooks Brothers shoes made by Allen Edmonds which have the vtread also have combo or dovetail heels. Part of the combination heel is leather. So, the rubber sole is great for wet weather, but the leather heel really is not, so I don't get the point of this at all. It does look kinda cool, but otherwise just does not make sense to me.
The front sole is more like a topy, which prevents your sole from wearing down too quickly. Not really for wet since it's just a top layer. Step on a puddle and the water will permeate the leather sole.