Non-crafting builds get to dump INT and save the skill points invested into crafting. If you're not planning on dumping Crafting Skills, crafted items will generally be better.
IIRC, you can't get a crafted knife past 11% crit chance, but using q150 parts it will be much stronger in DPS than the Kukri overall, especially with electroshock considered.
On some old build threads, it was generally agreed Knife was one of the weaker builds, especially late game; fast melee attackers usually want to be psi monks using fist weapons. Cutthroat is situationally useful especially on some zones/quests, but overall the build doesn't scale as well.
That being said, a good player can clear Underrail with pretty much any build, and I think it's plausible to finish DOMINATING with a knife build.