I think that this is where the melding of contemporary and traditional survival skills would well together. The tools provided in this scenario should allow me to build additional tools, depending upon local materials.
With the matches I have the potential to at least start a fire. I must now ensure I can actually start and maintain one. I must select the appropriate tinder, kindling and fuel wood. The fire, in my opinion is essential for warmth, food preparation, water purification, signaling, and physiological well-being.
The knife, while it might be considered inferior, still can serve as a cutting tool. If the steel is soft, re-sharpening on some flat rock should at least maintain a usable edge. With the knife, perhaps as a drawknife, make some spears, which can be fire hardened for protection and food acquisition. As presented, the knife should be useful in shelter building, especially if I am creating a shelter for only a few days.
So much depends upon our local environment and available resources, as to how to proceed. My feeling has always been that I should plan for short-term survival (a couple of days) with rescue my main priority. With that in mind, I would think that the tools provided in this scenario would be adequate. Pete