Thinking about this, I would guess that the laser etching is applied after the paint is fully cured. The crack we are looking at only appears in the lazer etching and may just be a crack in the paint. Only way I can think to be able to tell for sure if it is just the paint or possibly a fracture in the metal would be to strip the paint.
To answer the question, Does it matter? My oppinion... When you reach for a hard use survival knife from it's sheath for the first time, you shouldn't be asking your self, I wonder if that is a fracture in the blade? I think it matters.
I'm sure one of the folks at ESEE can shed some light on this, may be something they have seen before...