Knife collector here - Lots of weird misconceptions going on in this product discussion. Disclaimer - I don't own this knife, so I don't have any hands-on experience (unless Massdrop wants to send me one to play with *wink*wink*). But lets break this down with the info provided by Statgear's website.
First off, this thing is made out of 440C steel - this is already better than the Gerber Suspension that's being dropped at the same time. 440C steel is probably one of the most common steels being used in knives today. Kershaw, Spyderco, and Benchmade all have knives in their lineups that use 440C steel. It's not the hardest steel, but it's a good compromise between edge retention and brittleness, as well as ease of manufacturing.
A rubberized ABS coating does not make a bad handle. ABS is light, durable, and the rubberized coating should help you keep it where it belongs. Sure, some G10 scales would be nicer, but you'd probably be paying 3x's as much.
The extras - The flashlight is probably crap. It looks like it uses some sort of single coin battery and only one LED - according to the website, it's only 5 lumens. To give you an idea, that's about the same as a solar garden light - a 60W lightbulb gives off about 800 lumens. The seatbelt cutter is made out of the same steel as the blade - 440C, so no worries there (note: this is the same steel Benchmade uses for many of their rescue hooks, and I can tell you from experience that they're sharp as heck). The window breaker is simply listed as "spring loaded steel tip" - so it may not be 440C, but you don't really need it to be. A window breaker functions by putting a lot of PSI in a tiny amount of space. As long as this thing has a nice tip, it's probably going to do enough damage to crack a tempered safety glass. There's a demo video on their site showing the punch working quite well.
The website lists this at a 6.4oz, 3 1/4" blade length, 5" closed length knife. With the flashlight, I'm guessing it's probably on the fat side as well. With these dimensions, I'd consider this a medium-heavy carry. It's heavier than a blade-only knife like a Leek, lighter than a huge knife like the Adamas, and lighter than most medium-to-full-sized multitools. It'll probably be very obvious that you're carrying it.
The big questions about this knife should not be about the blade quality, because that's more than adequate. The questions should be regarding longevity and ease of use. How easy is it to draw out the various components? Do the locks feel secure? Is there any play? Those are the questions I can't answer because I've never EDC'd this knife before.
TL;DR - On paper, this knife isn't bad and it's not a horrible purchase at the lowest drop price. Component steel quality is good. Longevity and endurance of the tool are the only question marks.