I am looking for my first EDC knife and have always believed that (in most cases) spending a little extra money is cheaper in the long run, if that means you are getting better quality and craftsmanship.
Diminishing returns kicks in way, way before $400. I'd say after $150, you're paying for the company's marketing costs or getting fit-n-finish that doesn't effect the knife's usability.
What exactly is it about these knives that you like/desire? Is it the multi-tool aspect, or the image? I ask because if it's only going to used to cut things, I there are much better knives at less than half the price. Both of the knives you mentioned are "tactical" knives which are generally thicker, heavier, and have worse blade geometry than knives designed primarily for cutting.
In terms of materials/technology:
S30V is a good knife steel, but it doesn't command a high price by itself. Spyderco's $50 Native has S30V, as does almost all of Benchmade's $150 folders.
Frame locks aren't special unless the knife is well-designed. Technically speaking, it is a last-generation lock. Many people including myself prefer the newest generation of locks like the Benchmae Axis, SOG Arc, and Spyderco Ball Bearing lock.
SOG also has a bunch of knives with the built in cord/line cutter.
You haven't really mentioned what purpose this knife will serve. If you want a folding toolkit, a multitool will serve better. If you want a very sharp knife, any number of knives at one-fourth the cost will serve better.
I also think both those knives are really, really ugly.