A pencil holder needs to do one thing: hold pencils.
Which means, pretty much anything, ANYTHING will do the job quite right as long as it’s able to more or less contain things: re-used metal cans, glass jars, cardboard tubes, etc.
Plus: a lot of these look good too. AND, you can throw them away with the regular trash if you move out!
So basically, any company manufacturing ‘professional’ pencil holders could stop right away, the world wouldn’t miss them, and an entire branch of useless mass-produced objects would disappear (and the associated waste stream at the same time).