I carry a pocket knife and a Swiss Tech Micro Lite instead of the big, bulky Leatherman-like devices, and I use both tools frequently.

I'm not sure what I'd do with a multi-tool if I were trapped in an elevator. On the other hand, I've never been trapped in an elevator, and I'm infrequently in them, so his sensible choice doesn't seem to work for me. (I don't disagree with his choice for him; it just isn't the right choice for me.)

One of the issues is comfort level - guys who have multi-tools and use them have a comfort level on what their uses are and when they need them. I use my micro lite more for the screw drivers than for the pliers, but I use the pliers occasionally. My pocket knife gets used pretty much every day. Many people never have occasion to use a knife. They use something else when I find the knife useful and convenient.

Multi-tools are a compromise. I don't like using a knife blade in the multi-tool handle. The screw driver blades are all off-center and don't torque well. The pliers are the best of the tools, although the handle may be so uncomfortable I can't grip it as tightly as i can 'real' pliers. It's like a spork - it's not a good spoon, and it's a sucky fork. The issue is whether the compromises make it convenient enough that you have it when you need it and don't have the real tools.