I think everyone can agree that the consumption rate to effort required ratio is extraordinary. Doubling HP would still make theirs half that of their bronze counterparts and actually make it worthwhile to produce and wear them. A lot of people I talk to don't even bother hunting with leather pants and boots because they get chewed up so damn fast. I wear them if I have them but never bother to make leather personally because it's too much a pitfa and they disappear so damn quick.
Leather armor is only useful to nubs.