I have the BG Ultimate knife. It's nothing outstanding, but for the price it isn't a bad knife. There is no such thing as a knife that is ideal for every situation. The best knife is the one you have when you need it. I like having a fire steel handy as well as a sharpening stone.
The original versions had problems with the pommels breaking off really easily but Gerber recalled/replaced them right away and this is now a sturdy knife. I'm not a big fan of serrated blades either, unless I am cutting cordage. Then a serrated blade is really efficient.
As to BG and his TV show... IT'S A TV SHOW! It isn't intended to be an example of real life situations. It is supposed to be an exaggeration of potential survival situations and worst case scenarios. That's like complaining that the characters on Family Guy are just cartoons and not real people.
If someone wants to free-climb a waterfall and potentially plummet to their death then I just consider that to be natural selection at work. The kid who eats too many paint chips doesn't grow up to have kids of his own. I don't know anyone who watches these shows that actually believes this is anything but a dramatization of real life. Also if you watch the show, you will see that they flash a disclaimer in the opening credits saying that it isn't real and that it is essentially staged.
I find it kind of disturbing that so many people, (not just here but mostly on other forums), who know so much about the outdoors and survival don't know that it is just an outdoor stunt show with a few survival tips thrown in.