A weld, should be the best form of repair. If it doesn't hold, which would be surprising, I can weld it again, and weld another patch on. Or in fact, do that from the start. If the "weld" fails, I can always do a patch job after the fact, with more plastic or riveting or screwing in an aluminum plate. Or buy a replacement plastic part to have sown in on the leather.
This plastic welder, is the largest heaviest duty 120V, made in USA one that I could find. It's for fixing automotive plastics. I'm sure that it will do the job. I'm going to be giving this thing a try in a month or so, depending on USMC training...
As far as the $150 plastic... Tap plastics would be about $30 a square foot, and I'd just have to trim to size.
For my technical expertise, I've used to build robots, firearms, restore 1950s Army vehicles, and I've done a bunch of wood shop and arc welding classes. I'm pretty confidant that I can fix this plastic part if I use the right tools.