The engineering reason for fiber spacers is as a shock absorber. The porous surface allows a good bond adhesive between the tang/spacer and the spacer/scale surfaces. The plus is that the spacer material is tough and flexible (compared to metal,wood, ivory,etc.) and provides a microscopic "give" to the assembly. If you drop a knife with only a glue joint the joint may fracture and shear (even with rivets) due to the shock being transmitted down the hard surfaces. With the fiber spacer the bond flexes because of the "soft center".
Stacy