I have two M16 series knives, both have coated blades and handles. The blade coating on both of mine seem to be pretty durable and look to be more of a chemical process rather than a paint or epoxy. It reminds me more of a gun blue, even though I know it's stainless steel.
But it does scratch off if cutting cardboard or other abrasive materials.
The painted aluminum surfaces and particularly the steel clip all wear off just form pocket carry. My M16 11k gets the most carry and the clip showed bare metal in spots after a day or two of carry.
Just as a comparison, the black coating on all of the torx screws on my Benchmade Stryker began to peel off imediately. I removed it all and it looks better.
I've slowly started to get away from coated blades and aluminum handles because to me they look prematurely worn. Uncoated blades and natural handles materials ( and G10) get more of a vintage look with use. Of course this is only my opinion, others here have commented that the worn paint and coatings looks good.