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I don't have one myself, but I saw one recently at shop when I was picking up some vintage MLPs, and it looked beautiful. Crisp printing. I almost bought it myself but ended up going with a different one. Loungefly products in my experience are always beautiful, I've never seen one that looked to have poor quality - did you buy from Amazon directly or a secondhand seller? Can you compare photos to others people have online? I have come across counterfeit Loungefly items before, but not often, so it could just be a printing issue.
The idea of there being fakies is a real possibility as well sadly enough, but maybe we would have seen more of that by now?
I sincerely doubt it's a fake. It's a very specific wallet to have duped and there are likely more sought after ones to have duped. I'd agree with a lower quality printing.