“Drop point” refers to the shape of the blade, particularly the back of the blade. Instead of the back of the blade being straight, as in a carving knife, it curves down toward the tip, either for the full length of the blade, or, more commonly, for the last third or so.
I can’t see much to distinguish the two blades, except for small stylistic differences. They should both be OK, using standard knife steel (440C), but at that price point they won’t be great blades. They may not hold an edge well, the pivot may weaken over time, the powder (“power”) coating may scratch off, but they’ll be fine for hack work.
To add to what Marcus said, they aren’t bad knives, per se, but they aren’t very good (as far as knives go, they don’t compare well to CRKT or other ‘low end’ knives), and you are paying for the S&W name.
Awesome revolvers, but unless you are looking for a knife that has S&W on it, you can do much better for only a little more money. (Or you can do about the same, cheaper.)