I think it is as with fur coats. With the animal-rights movement and so people simply cannot stand the view of someone wearing something with real hair on it. We have a fur specialist's shop where I live and it is going bankrupt due to the lack of patrons. Leather without hair seeems to be a different beast, though. People are funny: If you want to wear another animal's tanned skin, shave it first!
Yup, these jackets were a real popular choice for youngsters.
Here's a longer length shawl collar model by Buzz Rickson
There's a lot of USN deck jacket in that Buzz Rickson design. Not a style that was ever produced originally, but it works.