I read a couple places that the original idea was indeed just for a pot-hook for camping and such, then someone said "Hey, I could sharpen that" and blammo, a guthook, history was made. I don't know if that's true or just a legend.
The "European style" gutting blade is a straight edge with a totally blunt tip. I've seen it demo'd in videos and it sure looked like it worked well. But that's an extra blade to carry, not too many people seem to like that.
Serrations, yeah I don't like 'em either. As a user they just plain annoy me. I've found that good steel with good HT and an appropriate "plain" edge angle cuts cleaner, and just as long or longer than a serrated edge, and is still easier to touch-up. Ever try to whittle a tent-stake or peel an apple with a knife that had serrations? Don't, it will make you say bad words.
I've said it before and I'll say it again: I've cut more paper, cardboard and Tyvek than most sane men will ever see (many years in the printing/converting industry) and we ALWAYS came back to plain edges every time we tried any slitters or sheeters with a serrated edge.
As a maker, forget it, the extra labor and PITA to make serrations would jack up the price so much to do by hand, I doubt it would be worth it to a client. If serrations are what the customer really wants they can get 'em at the Dollar Store. Buy a package of cheapo steak knives and throw 'em away when they get dull.