As you say - each to their own. I remember the first time someone here saw an unsheathed knife hanging from my wrist lanyard they about freaked. But I was taught not to put a knife on the ground and I'm not going to put a bloody or dirty knife back in a leather sheath every time I need both hands, so just letting it hang off the lanyard makes sense to me.
I do this all the time. It just seems logical to me.