Vance is most definitely out of control and some of the things that have happened in NYC since he took office defy belief, but carrying a knife clipped to your pocket with the clip visible was problematic there for years before he took office. The NYC law that requires knives to be concealed was originally aimed at sheath knives, both fixed blade and folding, and existed before Sal came up with the idea of pocket clips. Requiring concealed carry makes some degree of sense in an area, like Manhattan, where the resident population density is over 70,000 per sq. mile and almost doubles during the day on weekdays when commuters flood into the city. Personally, I think that if you're in a crowded city where the concept of "personal space" is almost non-existent in many public places, and especially in public transport, carrying a $100 knife in a manner where it can be seen doesn't make any more sense than carrying a $100 bill that way.
As for the Manix 2, I'm fairly certain you'd be in deep trouble if caught in NYC with it, or any other knife where the blade swings open relatively freely once a button on the handle is moved by your finger while the front of the handle is pointing downward. Outside the city, it's going to depend a lot on how you look and/or the circumstances under which the knife was spotted. If you're being arrested for something else, you can pretty well bet a "possession of a gravity knife" charge will be tacked on for good measure. Also, you can call it profiling if you wish, but cops tend to follow the "if it looks like a duck..." theory when deciding whether someone's combination of age, dress, location, demeanor, and associates make them worthy of closer scrutiny.