"The general availability of modern communications has greatly reduced the chances of long term stranding in true wilderness.
A downed airliner is quickly located these days, as is a ship in distress.
Even small boats and aircraft often carry emergency locating beacons, as do many persons visiting remote or dangerous locations."

While this is true to some degree, simplyknowing the location of an emergency does not mean one can reach and deal with the emergency. Consider the consequences o flash floods, sudden storms, rugged terrain, etc. All can significantly delay aid.

I am not sure, but I doubt that very many people venturing out into the wild carry and know how to use a PLB or similar device. Any stats, anyone?

There are many "survivalist" boards that deal with ShTF, TEOTWAWKI, etc. and they create a vast fantasy land where rioting erupts and social order disintegrates as soon as food stamps are not issued (literally!) and allied fantasies.

Meanwhile, people still get delayed, trapped, or injured in the woods, usually because of inexperience and improper preparation, sometimes with a bit of alcohol involved. From what I hear, my old SAR unit is far busier now that in the olden times. If you suffer a fatal 100 footfall, easy and quick communication is fairly irrelevant.

In my outdoor and SAR experience, a decent knife, most often a SAK, has been useful, but not nearly as critical as lighting a fire, finding water and rendering it drinkable,or sheltering from inclement weather. I have never felt that my cutlery was inadequate for the task at hand.

I would face the wilderness confidently with a Mora in hand, as well as a full size multitool (Wave or Skeletool). If frequency o sharpening is an issue, I am fine with the cheaper steels.
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Geezer in Chief