I feel like the "strength" factor is almost all mental, it makes you feel more confidence in your knife. Like you said, take a fixed blade with the same exact dimensions, grind, heat treat, materials as a folder, and what will it ACTUALLY DO BETTER??? in that size range, not much. Easier to clean, and simpler.
I have done really hard work with liner locks, backlocks, and even slipjoints that could have broken fixed blades.... And I can't think of an activity a small FB is realistically stronger than a folder, except maybe spine whacks
Oh and longevity goes to fixed blades, too. Hard use which might not cause a good folder to fail, can still wear it out eventually.
Don't get me wrong, if I could legally conceal a fixed blade I'd probably carry my RC3-MIL around, and have a few izulas to boot. I like the simplicity. I just think that they are in no realistic way stronger than a folder.
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