The Leatherman Wave Alpha costs $150 and is, by all mechanical accounts, excellent at what it does.
The blade is sharp. The scissors work like actual scissors, not spring-loaded revenge fantasies. And you will carry it every day while using maybe three of its fourteen tools with any real conviction.
A multitool exists as a category because occasionally-useful people need occasionally-useful objects. You need a blade sometimes and a bottle opener sometimes and a screwdriver once every two months. The genius of the multitool was that it solved this by being cheap enough to buy, small enough to forget you're carrying. Bad enough at everything that you don't mind losing it when you do.
But the Wave Alpha review praises it precisely by describing its escape from this category. The blade and scissors are "standout." You will "actually use" them. The premium price is justified because these two components are good enough to be primary tools rather than backup solutions. Which means we have identified the exact moment when a multitool stops being a multitool and becomes a lifestyle brand covering up a single-purpose purchase.
If the Wave Alpha succeeds because its blade and scissors are genuinely superior, then the comparison that matters is not to cheaper multitools.
”The logic reverses on itself cleanly. If the Wave Alpha succeeds because its blade and scissors are genuinely superior, then the comparison that matters is not to cheaper multitools. It is to a dedicated folding knife and a pair of quality scissors, which would together cost less than $150 and perform better because they would not be compromised by the dead weight of twelve tools you will never touch. Victorinox makes a folding knife that costs $60. Kai makes scissors that cost $30. Together they solve the actual problem.
List three tools you own but rarely use, then calculate what a single dedicated tool would cost—you might discover you're paying for reassurance instead of capability.