Surprisingly useful!
You won't be doing any carving with this, but the curved handle lets you hold it securely between thumb and forefinger, especially on a keyring where you can grip the keys. It opens boxes, cuts string, sharpens pencils. Nice solid backspring, it's small and cheap but not flimsy. It's not "the knife you want for everything" but at this price and size it's definitely the Knife You Have for small jobs.