I think that most people imagine "their" survival situation as being one that will not pose that much of a real threat to their life. I'm not sure why people do this. Maybe it is because they feel or believe that if it is in their kit then they will have to use it, and so they somehow avoid the more serious situations by carrying band-aids instead of an emergency field pressure dressing, for example. I can honestly tell you that if it only requires a band-aid, it is not life-threatening, and should not be considered a survival situation, and that is why there are none in my survival kit. I know there are execptions to every "rule", but for the most part what I am saying rings true. As far as I can remember, band-aids are to keep children screaming "Mommy!" from thinking they are going to bleed to death from their first minor bleeder or scratch, and they are effective at that. The infection issue is not something that concerns me since I will anticipate my survival situation as probably being typical in that I will be rescued or find my way "out" in less than a week, and not forgetting, it is only a scratch, so even if it does get infected, I know it won't kill me. Ha Ha Ha!

I guess the next obvious question is for me to ask, "How do you know what YOU need?" As far as I can tell, I don't exactly know, as I can't always "see" the future. Well, this means that I am not going to assume that my next survival situation is going to be an "ideal" situation requiring a mere band-aid. I don't think any true survival situation is.
So, I will include items that address immediate life-saving first aid needs, rescue, and immediate subsistence needs, in that order.
If I find that I have survived the car-crash off the road in the mountains, but that my arm is bleeding heavily, I will be glad that I am conscious due to the fact that I wore my seatbelt, and also that I have a field dressing in my "Altoids Tin". Oh, wait, I forgot, those don't fit in Altoids Tins. I guess I better not bring one then, as I'm sure my band-aid will suffice. Ha Ha Ha!