In about half of the states, that meets the threshold for a charge of felony theft. If they could count the full $1500 as a theft, (instead of $1485), it would qualify as felony theft in all but six states.
I don’t know enough about the legal side to know if it could be pursued as theft though.
34 bucks for some fabric and Velcro. For probably $20 I could make multiple pairs of them.