An enraged pit attacking you will often be on you in a flash.
You'll be bowled over before you can even draw a knife.
By then your priorities will suddenly change from contemplating drawing a knife to the basic survival instinct of: "GIT IT OFFA' ME!" as the pit is trying to tear chunks of your face, neck, body.
You'll have both hands/arm occupied with either fending off bites OR frantically trying to dislodge the pit now lock jawed on to some tender part of you.
Some pits will not only body slam you with their immense weight but they'll whip you back and forth on the ground tearing at you.
Most ordinary people will by then have gone into full atavistic mode i.e. having reverted to/been reduced to a state akin to what our forefathers felt, when some sabre toothed tiger or Haarst's eagle grabbed them.
Your whole being scream SURVIVE and you claw at that thing with both hands.
Even if the dog yanking you in a powerful yawing motion back and forth on the ground made it possible, most ordinary people would long have forgotten they even had a knife, a kubotan or spray - let alone any boobtube videoes, they watched.
Forget all the stories and the sheer absurdity of thinking, that you can let them chew on one arm, as you fish for your knife with the other.
Few with an EDC knife have a chance against a pit.
Everything is possible of course. There is the unlikely outside chance. Dont count on it though.
Personally, Id rather not be involved in an all-out pit attack.