A curious thread in many respects.
The distinction between corrected and full grain leather is a distinction between two different kinds of thing and not two of the same thing. The question must be how good the leather is, whether it is corrected or full grain.
Then there is the question of construction, which--minus a circular saw and the ability to know what one is actually looking at--is revealed to most of us through time only. The Ludlow has only been out there for a few months, right? Can we be sure how well they are made in that time?
Rather than larding this post with obnoxious references to shoes most people don't own, consider a vintage pair of English made Doctor Marten's and an Asian import, which costs half as much. Let's even consider the Asian import in a distressed leather, which is not "corrected" in the same way that the vintage quilon leather is "corrected" in that it does not have that plasticky finish.
Go back in time and try them on again. You had hair then and were cooler. It will be fun!
After about six months you will remember that the quilon leather started doing some interesting things. Not allowing the blood stains from your beleaguered feet to soak through being one of them. Yes, the old Doc Marten (do you remember the old Doc Marten?) hurt for months. Then it didn't. About that time, the leather started deepening, corrected as it may have been. It developed this interesting texture like liquid wax or like Van Gogh's "An Old Pair" had he only primary colors to work with and no ability to create shadows. It flourished in this state of vintage Doc Martenness until the sole wore a hole in it, whereupon the leather started to crack where it creases. Ten years? Ten years scuffling about in crowded bars (or, if you were disposed, curb-stompings). More than once it did time behind a lawn mower because you didn't feel like changing shoes. And o the beer spilled on them. Ten years of that and it gave up the ghost. And you were sorry because they looked really cool.
Corrected grain. Polymer welt. But a corrected grain deliberately created by expert shoemakers and designers, made really well in England.
Fast forward to your midlife crisis when you decided to buy a new pair of Docs in the mall. Let's say they were distressed, which is less corrected--usually a "genuine" leather sanded and waxed rather than lacquered or sealed. Remember when you wore them the first day, having first planned for disabling foot pain and a month of recovery? Miraculously, they didn't hurt at all. As if the shoe wasn't fighting back against the motion of your foot as you walked? (But shouldn't it have?) By the second week you were putting in arch supports because the uppers were just mush and giving you no stability. Yes, you are older, and you and your feet suck more, but the shoe sucks worse. Too much give in the leather. Construction is too flimsy. Ten years? Hah. After a year you tossed them.
And, indeed, it was only designed to last a year or so--and to look about right in that year and to be comfortable right away. It was all those things, but it was not a good shoe.
It was made to look like a good shoe at a much lower price.
Which is what the Ludlow is, and all it can really be.