It is a clip point with a false edge. I suppose you could sharpen the false edge if you wanted to but because of the way the blade grind is done it would be hard to get a really decent cutting geometry on it.
I won an 81 awhile back in a GSSF Indoor League match and it's a nice knife. I haven't done any torture testing on it, but here are my impressions.
Blade steel feels a bit on the soft side, at least it sharpens pretty easily/fast. A softish blade is reasonable for a survival type knife since it makes breakage less likely. The down side is that edge holding isn't as good.
The blade grind is decent but not great--not symmetric. I ended up having to do a faceted tip when I sharpened to try to hide the assymetry and to get a decent tip on the blade. When the grind isn't symmetric you'll notice it most easily in the tip of the blade.
I like the rest of the knife (handle/sheath/guard) it's well thought out and seems very functional. I've been using it as a letter opener--I don't really have an application that would test the abilities of a knife like this one.