With admittedly limited knowledge, I'd say the anchor points for the suspension rings look rather weak if this were to actually be worn for practical use. I can't see enough detail of the blade, so I can't offer much more insight that that. It does look stout, though - maybe a proper working blade.
I'm curious what others think. The aesthetic of shibriya often confound me as even the examples intended for hard use by the indigenous population look to be "blinged out" in the same style as the ones purely intended to sit on a tourist's shelf.