Agree, fantasy piece for a couple reasons. Most obvious is the inscription. There was never a "Deutschland erwacht" it was always "Deutschland erwache".
Good point.
I believe there was an early propaganda film titled "Deutschland erwacht", but the banners/tinnies/flags were "Deutschland erwache".
Would that be like "awake" awakes" "awakened" ect ?
The holy grail for German militaria collectors is the Deutschland Erwache standarte, very few are known to exist and even partial, degraded examples, the few times they hit the market, easily fetch $25K +, pristine vetted examples $250k and up.
A large part of their attraction to collectors is that each and every one of them was personally touched and consecrated by Hitler himself - Not most but all of them, it was a symbolic ritual and even during the period 1933/1945 these were rare and highly symbolic. Few in numbers to begin with, many [perhaps a majority] were destroyed after the war.
[Photo a reproduction, themselves worth $100's or even $1,000's]

There are also legit period "Deutschland erwache" pins/tinnies, because of their association with the standartes they are highly collectible as well. Fakers are well aware of this trend and have flooded the market long ago, probably 10,000 fakes for every legit "Deutschland erwache" item. So some items are fakes/reproductions [a post war copy of an item that actually once existed and was produced in Germany pre 1945], but most are fantasy items, dreamed up by whoever made them, and typically feature gaudy, over the top visual embellishments such as this pocket knife.
Best of my knowledge, and I do collect militaria including TR/Imperial German, there were never any "Deutschland erwache" edged weapons officially produced during the TR.
OP, you have a clunker.