I think, that they perhaps mainly look at it as a hammer for pretty big tent stakes.
This hatched could have been made according to German boy scout specifications.
As a boy scout leader I used my hatchet, regarding the relevance, 50 % for tent stakes carving and hitting into the ground, 30 % cleaning twigs from pine tree poles, 20% for kindling. No log splitting because it never was needed during the school holydays when we went out with the group. Perhaps the design reflects this use.
But I never used this hatchet. No idea, how it performs.