It kind of reminds me of the Red Oxx bags
. Though they are not designed with the Checkpoint feature, they are supposed to be extremely durable and high quality, especially for those looking to minimize to a single bag. They look pretty nice, but no leather. The "Air Boss" will set you back $225. Not what I'd consider "cheap".
Since the Skooba/RoadWired Checkpoint bag is "only" $140 w/o sales, I imagine you're paying a little for the Tom Bihn name. It's also made in the USA which probably drives up the prices a little.