Tom,
There is nothing wrong with either maker of the Swiss Army Knives products for utility work. I own a number of both Victorinox and Wegner's products and they are good tools.

The Trekker is a good knife, I have one in my SAR kit I use at the FD. However, I would still rather have a knife with a larger profile blade in a better steel that will hold an edge longer then the SAK's. S30V isn't a fad steel, it has been around for quite for good reason. S30V is extraordinarily corrosion resistant, is easy to sharpen and holds and edge well. Are there other steels with similar performance, sure. SAK's blades even share some of these properties, but for me the killer is how quickly a SAK's blade looses it's edge and how thin and somewhat flimsy the blades are.

Like I said, they are exceptional knives for utility work, the small blade has been my whittling blade of choice since in cub scouts, and the other tools they have make them very useful. I still would prefer a better blade for the tougher survival knife tasks like battoning.