Definitely depends. I've had very good Allen Edmonds shoes made with Horween leather that had a coating. Not sure if it was applied at Horween or at AE. But you're right that many sneaker brands hide crappy leather with coatings. Or they use coating to get hues that are impossible with dye. You cannot get white leather via dyes, for example.I had the idea that coated leather and good leather were not compatible terms. I got this idea from the shoe snob