I've been using the Baladeo knife for several months and I'm not a knife guy. The only utility I've been able to find with a knife to make it worth the weight, and hassle of keeping track of it, is for cleaning fish. Other than that, its uses seem limited to me on the trail for *most* types of backpacking.
That said, the concerns that I've seen voiced about the Baladeo 34g are probably based on looking at the design rather than using it. When I first held the knife, I had the same concerns about safety, stowage, carrying it in pocket, etc.
The lock is not secure and it's easy to disengage the lock during use. The lock does provide more security than the lock on some heavier knives, like the BM 530.
So what! I learned to whittle on a non-locking buck knife, and when I teach knife use to young kids I always start them on a non-locking knife. It forces you into good technique. Locks can make you lazy. However, locks allow you to do more things with a knife safely -- I will grant that.
I really like the Baladeo 34. Beautiful aesthetics, the quality is excellent, and for my primary use -- cleaning fish and whittling shavings for starting woodfires -- it works great. I carry it clipped into my pants pocket and I've never lost it, and it's never posed a safety problem and accidentally disengaging in my pocket, where I'm scrambling, bushwhacking, or trail walking.