That looks good and well thought out. I like it.
It's pretty easy to make a kydex sheath, not so easy to make a good one. I think kydex needs it's own subforum under sheaths & such. The sheaths & such forum is 99% leather; I get it, leather is sexy and traditional, but kydex is more appropriate for many knives. There are a lot of little tricks that go into making a good kydex sheath, so whenever I see a picture of a good looking kydex sheath, I want to see pictures of the back to see if it was molded tight to the handle, or how the belt loops were done, etc...