Last I heard duct tape was a development during, possibly just before, WW2 and was primarily developed to hold boxes used to ship supplies and material together under harsh military depot conditions and rough handling.

I'm not a big fan of wrapping handles and creating items, belts or bands, to carry light line. IMHO it places the line in a portion where it is likely to be exposed to wear and tear to the point where it becomes unreliable. Try unwinding para-cord that has been macrame-ed into a belt and worn for a couple of years. It takes time to unwind and comes out with many worn, compressed, stained spots. Better than nothing but not a material I would depend on for any critical task.

I don't object to people wrapping handles with cordage. It can improve the grip, particularly if the tool is used when wet or covered with grease or blood. It can make using the tool more comfortable and effective. Para-cord is pretty cheap and is often effective in this role.

I also don't really object to people wearing belts and bands made of cordage. It is an interesting look and a fashion statement. Making such items is a productive hobby and useful skill. Rare to find a person who does macrame who can't tie a decent knot. I'm always amazed at the number of adults who can't tie an effective knot. Such skills are not as common as they need to be. It is scary to see cargo tied to a car top with granny knots.

What I do think is unwise is to wind a handle or wear such a belt and expect that you will be able to quickly have access to cordage in good condition. If you think you may have use or need of such cordage do not count on the stuff wrapped around a knife handle or woven into a belt. Don't count on the stuff woven into a belt or wrapped into a tool handle. Bring what you need, or think you may need, in a separate hank.

If and when things go far enough south that there is no other cordage available, and you have time, you can turn to the stuff wrapped around a handle and make due with the condition it comes off in. At best, it amounts to a last reserve. Better than nothing but not to be counted on.