These are totally different shows. First SHOT is an industry specific show that's not for the general public. You'd need to have an invite to get in. And then, it's not a knife show. I have seen a couple custom makers there over the years, but not many. Mostly the companies exhibiting are major manufacturers, and the only focus is on current products for sale. That being said SHOT is also not a retail show. Sales do occur, but they are frowned on. Most makers don't bring products for sale but will sell product to their dealers/distributors/etc usually with shipment after the show. SHOT takes the entire Las Vegas convention center to hold, and it takes days to see it all. Blade is usually smaller than one section of SHOT. (SHOT could easily overflow the mall Blade is held in.)
Blade is a knife show. The occasional other product does get thru the door, but not much. Scale materials, grinding fixtures, steel and other metals, custom makers, engravers, etc; you'll find all of that at Blade. And manufacturers big and small will also be there with the latest products and the expectation of selling it all out before the show ends. Collectors too have their tables, with sales and displays. If you want to talk knives, this is the show.
Back when you could have SHOT, the Safari Club annual show, and the Las Vegas Gun Collectors shows all on the same weekend you could see more knives than at Blade. But you'd never see all those shows in 2 days, and now days SHOT is held in the middle of the week to limit Pedestrian traffic sneaking in as well as conforming to the work week for the exhibitors (who are working).