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An interesting theory for sure. I'm not seeing the KM initials on the bat though.
It helps if you can find a darker version of the photo that shows more contrast.
Here's the one I posted previously
https://www.websleuths.com/forums/attachments/img-jpg.193492/
Depending on how you rotate the image, you'll see a K and an M. In this photo, you see a "K" tilted 90 degrees. Look again and you'll see an upright "M". Ignore the number 1, as it's the maker's stamp. The carving was somewhat sloppy, but it was likely done by a kid.