There is an unbiased review on youtube of the RIdge vs cheaper models. It's worth finding and he goes into detail (deficiencies in the knock-offs, material quality, etc.). Things that are not easily seen/noticed upon purchase. Technical things like the edges of these wallets, which matter in removing your cards more easily make a difference. You'd never notice that buying online.
I removed the money clip (easily) with a tool that comes with it. You can always put it back on. Didn't like the bulkiness of it. I also have always preferred cash in one pocket by itself (with one of those simple, cheap expandable folder/paper clips). In the other pocket goes the Ridge. It is well made and can fit a wider range of cards than some of the competitors, although I keep only @ 5 cards in mine. Someone upthread said he's 6 years in, and he still has no problem with the straps.
No issues so far with the straps stretching or losing elasticity and I doubt that is the case with knockoffs. Durability matters here. You also likely get a better/longer warrantee with Ridge. Get what you pay for. The premium for a daily, multiple use product, with an overall price that doesn't break the bank -- we aren't talking cars here -- is worth it. Especially if you end up ditching the cheaper model for a Ridge in the end.
This is an easy, simple looking product to think that price doesn't matter much. Until you use them. And frequently.