There was something wrong with some of the launch controllers. I have 2 and one of them has the issue where the rubber is wearing off the analog sticks. Combined, I've maybe put 20 hours on them. I contacted Sony about it and they try to pull their usual BS of having you ship it in, waiting a few weeks, and then they ship you another one. If you bitch and complain enough they'll just ship out new controllers and you can ship the problem ones back in the same box.

Don't let it go, though. The rubber eventually breaks away completely.