There are a few different approaches to having a reliable survival kit. The reality of having a small pocket kit in a small pouch as described may not cut in real world induced hypothermia weather conditions i.e. wet cold heavy rain/sleet windy conditions. Building a fire may be impossible especially if there is no wood or fuel to burn or conditions make it extremely difficult (exactly when a fire is needed to survive), a lighter or Ferrocerium or other sparky survival tools fail to get a fire going properly.

Trying to get a fire started and build a weather resistant shelter when hypothermia is beginning to set in combined with a lack of available calories available (lack of Liver glycogen and brain glucose after a heavy exertion in a cooler environment i.e. the panic bonk) could be almost impossible and could easily be the difference of not making it through the night.

http://www.youtube.com/watch?v=oRidCeRwjjg

A more realistic approach considering the number one killer of those that don't survive the first 24hrs when folks get lost or overestimate their abilities when walking an environment that they underestimate?