Ages ago, Leatherman changed the game for everyone panic-fixing something along the trail. You'd pick up a nail, find yourself with a backed-out nut or screw, needing to bodge an electrical fix, or any number of strange breaks that routinely occurs whenever you leave the safety of civilization. And for what felt like a millennia, if you wanted to do something about it, you had to bring along a tool chest the size of a medium-sized tacklebox to do so.
It took up space, it was a pain to find the right tool, and it weighed a metric ton. Then, Leatherman popularized the multitool, which basically turned that entire tool chest into something you could carry every day. I have a Leatherman stashed in my backpack at all times, and it's saved my bacon more times than I care to admit.
But there are situations where a multitool isn't the best tool for the job. Where a relatively heavy item weighs down your pockets. See, the thing I carry most often, though it's an oft-looked-over tool, is the simple pocket knife, as they're efficient things that can be utilized in a vast array of situations. And now Leatherman wants to dominate that game, too, with both fixed and folding knives.