No, SAK's don't have fast one hand opening, or a blade lock that can hold the weight of a Sherman tank. They are far from the latest wonder knife of the month that the knife magazines love to push for their advertisers money.
But
what they are is a handful of solution to a lot of the little problems that pop up in a real world life. You may not be able to fight off Chinese paratroopers in a Red Dawn fantasy, or plunge it thought the door of a car like some Cold Steel ad. But you will be able to open any UPS box, cut twine/rope, plastic packaging just as well as any whiz bang owner knife. Plus you can deal with a loose radiator hose, broken down motorcycle, malfunctioning motor on a boat, install a new lockset on a front door, replace the door latch on a Whirlpool clothes drier, replace the bulb in a brake light of a truck, put on new license plates on a car, replace a cabinet door pull, make a hole to start a wood screw, open a bottle of wine or a cold imported beer, pluck a thorn out from between the paw pads of your dog, and a zillion other things that a knife that is just a knife can't do. Next to a SAK, all other knives are pretty much one trick ponies. The SAK tools on the other hand are us full for more than their obvious intended use.
There's a reason that Victorinox makes and sells more knives a year than the biggest three 'tactical' knife companies. They are and have been for a long time, the largest knife company in the world.