Isn't that reasonable? If you want to cut food, or do something that requires precision, you don't want to use a machete. If you need to bushwhack and clear some brush, you don't want to use a small cutting knife.
Obviously, if you're a visitor on a public trail, you shouldn't have a machete.
But there are corners of my property where a machete wouldn't hurt. Sure, New England forests often have open understories. But if sunlight can reach the ground, they can also be nearly impassible.
Weight of machete on hike >>> equivalent weight of water on hike, seems like a much better idea.
The only time I bother to bring a knife is if I'm doing multi day backpacking in bear country. Of course I have bear spray and bells and everything else you should have to deter a bear in the first place, but the last resort option feels nice to have.