As far as I recall, the reasons for carrying an aircrew knife in my era (60s-90s) were to deal with entanglements in harnesses/rigging lines and also to deflate a dinghy or lifejacket inflated inadvertently inside the aircraft/cockpit. The design aimed to minimise the risk of injury or other collateral damage during emergency use.
When I first started flying in the early 60s, the aircrew knife had a sharp point. Experience showed this to be less than ideal and it was replaced by the blunter-ended knife some time later.