Very interesting thread and great to read all the different opinions/ thoughts /ideas & personal "deal breakers".
I'll add mine.
Back in the day Spyderco had a model called "Dyad" and "Dyad Jr." in essence a two blade, FRN handle, locking folding knife.
Dyad Jr. FRN ->
https://www.spyderco.com/catalog/details/C39P&SBG/Dyad-reg-Jr-Sprint-Run-trade-/667
Dyad G10 ->
https://www.spyderco.com/catalog/details/C44GP&SGY/Dyad-reg-Sprint-Run-trade-/841
IIRC the design/ original models dates back even way longer than those sprint runs.
Now if one blade was replaced by a holder for standard utility blades - it would be exactly my kind of/ my wish for an EDC'able utility knife.
(If that holder used screws to secure the utility blade, that wouldn't be a deal breaker >>to me<< - and more reliable than most "quick change" options I have seen on utility knives to date. (YMMV) )
Give the pocket clip a simple 1/4" hex cut-out so it can be used as "emergency" bit-driver.
Keep the riveted (pivot) FRN handle, use a proven, but rather common, steel for the main blade (doesn't have to be the latest powder/sintered steel) to keep cost at bay - so it becomes a true utility knife that can be sold not only to "knife people".
Offer two variants: plain blade + utility and serrated blade + utility. Try to keep the clip interchangeable in 4 locations.
I'd try to keep a +- 100,- USD MSRP within sights, so it can change hands at around 60,- to 70,- USD street price.
All that said, my current utility knife inside my toolbox or on me is the Milwaukee Fastback Gen. III and I really like it - but: being a knife guy, it's never my only EDC/ knife. A Spyderco model as I described, I could see becoming my "only" EDC from time to time, especially on "project days".
IMHO. YMMV.
Kind regards,
Oliver