Folding shovel unless he drastically changed the edge angle. It seems to me that he designed the knife primarily around robustness and only secondarily as an actual cutting instrument. As such I find no use for it. For a knife at that price point I'd expect it to cut. Yea, you can reprofile it, but stuff like that just turns me off when spending that much money on a knife. It just screams to me and says, "HEY! I can make this super awesome indestructible folding piece of kit except I suck at sharpening it! But you can still use it to pry stuff with! Yea!"
I dunno about you, but if I buy a knife I expect it to cut at least decently. I'd rather have a Hinderer or Demko. I only say this after having handled all three of them at one point. I also dare say that a Demko has a stronger lock and probably weighs less. Also, I don't like the use of an allen head screw as a thumbstud. For that much money, he can't even use a thumbstud?
EDIT: My last gripe with the knife is the giant pocket clip. Could he have made it any bigger?! Pocket clips are a necessary evil if you want to clip them somewhere, but that pocket clip is ridiculous.
EDIT 2: I see he has different clips now, but I'm still leaving my above comment up for posterity.