Having just found this forum and registered, I wonder if it is a good idea to make my first post on this particular thread since my opinions far outweigh my experiences. But with that warning, here goes.
Most and practically all of my experiences are in the Applachian and Blue Ridge mountains of Virginia and West Virginia. I even lived for a time in a log house and there are a surprising number of log houses within thirty miles of the White House. But that is another topic.
You need an ax to build a log house. A large knife won't do but for most everything else, it will. In fact, I'll even go out on a limb and suggest that in some cases, a large knife is even better than an ax or hatchet, at least if you include machetes and such like. But I am speaking of what you would call homesteading and general backwoods living and for that matter, even suburban living in Virginia. There are a lot of cutting chores that a large knife does perfectly well at that an ax is downright clumsy at, such as clearing brush and cutting a path. After all, it is a sub-tropical climate where I live and things grow like crazy in the summer. Yet I have not been that satisified with a hardware store machete of the Collins variety. I have an issue Golok that was inexplicably cut down by about three inches but still remains a superior tool, and it is just a tool, on account of its thicker and therefore stiffer blade.
I somehow manage otherwise when I am in the woods with a large folding Buck knife or alternatively a small fixed blade knife of one sort or another.
There are two other related issues that I also want to mention. One is cost.
A lot of large Bowie-type knives are unreasonably expensive, at least for me. I don't believe they work any better and you may be forced to pay too much attention to them to protect your investment.
Another thing was suggested by another respondent here already and that is putting effort into avoiding the need in the first place, at least for more expensive knives. All the same, that may be easier said than done!