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If you know your gonna need to cut wood, then bring a fuckin little hatchet or saw! If you unexpectedly find yourself needing to cut wood while out, then by all means, baton!
What's the big freaking debate? You guys buddy up'n be frenz. That way, one guy has a badass axe; The other guy has a badass knife. Together you survive and build lots of good shit.
I carry both. It's only a little more weight. The extra weight is worth not having to keep my hatchet sharp enough to skin a deer right, or my knife so dull that the edge won't roll or chip.
Then, on second thought, what the hell would you Homo habilis homos blag about all day?