I think the knife could have been mid level quality and higher.
Regarding knives, the difference between mid and high quality knives is often a matter of better "fit and finish" and higher quality steel that allows that knife to keep its edge for a truly long time. Steel used in mid level knives, however, would easily permit such attacks.
As far as say, knives in the US go, ownership is probably statistically down as the nation continues to urbanize. Tradesman, whether urban or rural, still routinely carry knives. So would many ranchers and people just brought up carry one (I am in this group) etc.
But... the knife has been described as a "Ka Bar" or Ka Bar like (USMC fighting knife and more often- a utility tool). Tradesman, hunters, ranchers etc. tend to be very practical about knives as they must actually carry them. Ka Bars of any sort are heavy, cumbersome and have way more blade needed for hunting or tradesmen type tasks.
As a result, I strongly suspect the knife is not a "carry / use" knife. Rather, I think it was more likely purchased by a collector for its historical association, a wanna'be "Rambo" wanting something "tough", or somebody with characteristics of both groups.