Yes, it will. However, since you are not wearing-off a coating, you don't seem to notice it. If anything, it will polish the metal, a bit.
I have a Smith & Wesson Model 66 that has been reworked. In the '80's I took many combat handgun classes. Some of which required rolling around in the desert dirt of the Phoenix area. The weapon was removed & reinserted into the holster probably thousands of times. It shown no serious wear other than some minor scratches.
At the classes I took, they highly recommended Alessi holsters. I have a number of them & love them all. They mount on your belt & place your weapon very close to your body. Actually touching your body. They are also quite high on the belt. This keeps your weapon out of the way & if you have a jacket on, you can't tell that there is a weapon concealed.
The snap at the top of the holster holds the weapon in place very well & is designed in such a way that it would be hard for someone to remove your weapon without your consent. However, when you need your weapon extracted from the holster, you just pull straight up & it pops the snap & your weapon comes out, easily. They are good quality holsters & have held up well for over 20 years, for me. I like these much better than the other holsters I've owned.
The company is Allesi Holster, Inc. Buffalo, NY.
Joe F. (Buffalo)