Boops
If you cut your femoral artery in a careless moment as you describe, whilst in a remote area and by yourself or with someone with little or no first aid knowledge or skills the action needed is very simple. Stand up and put your head between your knees and kiss your **** goodbye. Even with a signal for your mobile phone to call the emergency services you just ain't gonna survive it, far too severe a wound. You would be lucky to survive under normal circumstances with that type of wound at home even with the emergency services getting to you within 15 minutes.
That's quite a fatalist attitude! Which thankfully I do not share!
I have a very good friend who ruptured his aorta due to trauma sustained in an 'impact event' (ie he fell from a very great height) but he survived (he lost his left leg and sustained multiple fractures but he survived).
As an EMT, I have dealt with bleeding femoral arteries on several occasions, nearly all survived.
A possible injury to a bushcrafter is damage to the radial artery (in the wrist) or other major blood vessels in the fingers/arms. Less life-threatening than a blown aorta or femoral, but life-threatening nonetheless.
The point I'm trying to make is that by purchasing, practising with, then carrying, a cheap, lightweight, easily available military-type dressing (or as Alex suggests a No4 dressing and separate crepe bandage) a person may be able to save someone (themselves or someone else) from bleeding to death.
My suggestion is in direct response to this thread which the OP specifically relates to a severe laceration caused by an edged tool.
Almost everyone reading this is into using edged tools, usually in remote settings. Without 'getting into the weeds' of casualty treatment protocols I still insist that it is a good idea to carry a compression/pressure (ie military-type) dressing.
Band-aids were developed for miltary use and are now commonplace, I think the medical items currently being used in combat-zones will be commonplace in the future.