I have that tote! I really like it and it's very durable. I use it on vacation and it is very useful. I put stuff things like shoes, bike helmets, water bottles stuff like that. Then when I get to my destination it's for dirty clothes. Great as a laundry basket that collapses.
I got it as a special deal on GMA or the Today show. I don't think they are super overpriced. I would compare the quality as lands end or ll bean totes.
http://www.llbean.com/llb/shop/33381?feat=677-GN1&page=boat-and-tote-bag-open-top They are in the same price range and I would use them the same.