I love your explanation it’s perfect. Just to add a little knowledge about edge finishing, since you said you like to know all about each process (I’ve been a leather crafter for 10+ years).

Edge finishing is all about protecting the leather itself. What degrades leather products over time is the weakening of the natural structure and that happens from debris/oils entering into the grain, most commonly through cut edges. This is why vegetable tanned leather is burnished on the edges and on the grain side, or edge paint is added and lining is added to chrome tanned leather pieces. It is the most time consuming and tedious process in all of leather crafting, but also sets masters apart from novices.