You're wrong. You can get a classic Schott for around $600 and i bet you the quality and craftsmanship is better than most brands that's selling for $1k. If brand name is a factor for you then get a Supreme x Schott? Not saying this Gap jacket will be superb but you can find a good leather jacket for that price.
The point of collaborations are not to pump out high quality products - it's to help dying brands like GAP get some credibility while amplifying known designers. And that's the reason it will be junk. I'm not comparing this to Schott and quality / craftsmanship for their products (which are just fine if you want to look like you borrowed your dad's 1986 harley jacket).