Cheap and Chic: Old Navy Sequin Bag

Who needs designer collaborations when Old Navy just hit it out of the park?   I can't get over how luxe this Chanel meets Lanvin style sequin evening bag looks while still carrying a $24.99 price tag!  How can this be?!  I've been starring at this picture trying to figure out what's wrong with this bag and I can't find one thing.  It's the perfect thing to take to all the holiday parties you have coming your way.