Welcome to our forum, Lotsknife.
"first production run' means that the manufacturer sprung for a cheap etch job to spur excitement, to make the first 500, or 1000 or so buyers think they have something special. If it is in fact 'special', I'd expect something like a fancy handle, or real engraving on the bolsters, or a blade of high-tech steel. Maybe other's here have other opinions, but that is mine.
I cannot speak for the China made Sch****s, but I have owned other company's first production run knives and found absolutely nothing better about them as compared to the same model without the blade etch. And think about it... literally hundreds of knives can be cranked out in one day... so at the end of the production week, a few of the thousands made are picked out at random and the blade is etched.
There was a funny post in the BUCK forum a few months ago... Smokey Mountain Knife Works had a special etched 'Last production run from El Cajon, California'. on some Buck knives. No big thing, until someone pointed out that the knives in question had been made in China.
Phil