BG, I think the Vanguard is a great knife to consider.
For avid and dedicated hunters, people who are likely subscribing to hunting magazines and watching hunting shows on cable TV at night, I'm pretty sure the Vanguard is well known and understood as being an excellent hunting knife (as it should). That dedicated hunter isn't probably outfitting herself or himself at Walmart though. More likely buying on-line or at a dedicated hunting store.
But for the general aspiring outdoorsman wandering into Walmart what would be compelling to the Buck Vanguard. Probably they've heard of the Buck but what they see in the packaging has no family resemblance to Bucks they've seen before. Nice knife, mind you. But it doesn't scream "I'm a Buck, trust me with your buying dollars."
Contrast this to the Victorinox Trekker series.
That's obviously not your father's SAK, but you don't need to hang that on the Walmart display rack next to a Victorinox Pioneer for Joe Walmart buyer to instantly recognize the Trekker as a being a known and recognized brand. It screams, "I'm a Swiss Army Knife, trust me with your buying dollars."
I rather suspect that a Vanguard with a black phenolic handle and sold at the $35-$40 price point (just at or below the 119's price) would have survived at Walmart. IMO it's competition would be the monstrosities from Gerber with Bear Grylis's grimacing face plastered on them. I'd put the instantly recognized and trusted black phenolic look up against those Gerbers, but not with the 119 or 105/103 clip point. Add the clip point and it's the walking dead.
Sadly, the same applies to the 110 with modern buyers, I think. Want to see the Buck 110 available in Walmart 5 years from now? IMO, Buck had better slap the 426 blade in the 110 frame right pronto and call it the 110 drop point (along with the thumbstuds, which I don't care for).