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Watch the video.its cool. Flipside 3x wallet
I would have agreed with you, but for some personal experience to the contrary ...
I have been using a hard 5-card holder thing with an elastic around it as my wallet for the past 7 years or so. Because it is so much smaller than a regular wallet, you don't really notice it. (It's smaller than my phone in all dimensions.)
I've attached a few pics to show what I'm currently using
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Another thing to consider, because the HuMn, Trayvax, & Flipside style wallets don't have individual compartments for each card, they don't have all that extra material thickness between each card. It isn't much, I find it adds up pretty quick.
Plus, a buddy of mine has the Trayvax and loves it.
Of course everyone is welcome to their opinions, I just wanted to give an alternative view on the same issue.
I generally prefer a thinner wallet that is still somewhat soft and has a little flex. Not something that rips up the inside of my pants or gets to occasionally gouge me when I sit down, likes the HuMN and Trayvax. I would prefer an extremely thin bifold (with a long thin bill area, not the tall style which gives a deep square bill area), but a card sleeve comes in second.
For travelers, I think that something like the KeepSafe RFID Passport Wallet would be better. My experience is that you are going to have to remove your passport from the sleeve when going through customs/immigration anyway.