This replaced the dinghy knife and does the job. It got derided when it appeared and many were sceptical about its ability to cut straps. One of the stations I was at demonstrated it on dry drill sessions cutting old straps like the proverbial a knife through butter. There is a slidey button on the side which moves the blade forward to provide the point needed for puncturing the dinghy or life jacket should they inflate in flight. It is not supposed to be a survival knife.
As for the OP's project, presumably to argue the case for a replacement, I guess we don't know much about your suggested item. I wasn't aware of the loose-article issue but that would be a strong argument if you can show that the other one is better. Other than that, I fear that cost would, sadly, remain the biggest driver.