It's very difficult to damage 1/4" 1095 even trying to abuse the knife. There were several threads on here about BK2 abuse including bashing the knife through a cinder block, smashing it into a fridge, batoning it through part of a lawmower and more. The amount of damage the knife took was pretty negligible for the level of abuse. The owner sharpened it all out and the knife was able to be used with no problems.
When it comes to a knife like this I recommend the BK2 because it's basically a beater knife. The stock sheath is just fine. You can invest the other $90 or whatever the difference is and get a $40 Silky Super Accel saw, a $15 Mora Robust or some other small knife, and still have around $35 left over for a Victorinox Farmer or some other gear like a ferro rod, camp chair, tarp, paracord, first aid kit, personal survival kit (altoids tin size), fishing gear, or you could use the money toward getting nice shoes, socks or a pack.
There's more to your entire kit than just the knife. If funds are limited then make your money count. Fancier handle scales and a kydex sheath, in my opinion, aren't worth the additional money when you can put that money toward so many other things.