The EOD tool is a specialized device- it is designed to be a long, slim pry bar where a lot of force isn't required. To put it bluntly, it is so guys don't go digging and prying with their knives. It is sharp enough that they can be used rather than a knife, and dirt cheap so they are almost disposible if you stick on into something really fun and scary with a long and complex chemical name.

I've thought about one of these to keep in the truck, but what would I really use it for? Batoning, rather than risking a proper knife. But for not a lot more, I could pick up a Bushman from Cold Steel, which is a real knife and it has a sheath. Now, if CS was to make a Bushman EOD bar, they might have something....

In WWII, the 225Q Quartermaster Knife was selected because it was robust enough to be used to pry open crates then hammer them shut again without breaking. This is similar in concept, although quite a bit different in execution.