What observations? You say that it's not good marketing, because moleskine did not contribute some 'grand technology' to the project.
I say you can't possibly know if it is good or not, because you don't have the research and data behind it, and you most definitely cannot predict how it will affect their revenue and/or brand loyalty.
My opinion is that it will pan out really great for them. I would tell you what position I hold and the size of the company, but I'm sure that will only lead to some "appeal to authority" comment on your part.