I'm not standing up for the Tiffs, I agree they're lazy and uninspired. I also prefer the black pair to the F&F, those aren't practical imo
They did the AF1 collab similar to how they treated the Patek 5711 that blew up the past couple years. They took a watch, pretty much left it alone but changed dial color to blue, and put their stamp on it.
AF1 got consistent treatment - left an iconic shoe pretty much alone, but put their blue in one place (swoosh), and put a stamp (tongue). They went a step further with the silver on the black.
When they put their stamp on watches historically (outside the nautilus) it was just their wordmark on the dial.
I think some of their luxury presence is leaving well-enough alone, and co-sponsoring an icon. So it was lazy and uninspired, but "Luxurious" in its understated execution - it's more on-brand with the loro piano steez than the LV Off-White style approach
(wish they offered a white base as well though
)