Not sure about the one by the snap hook. But I use the bleed knot on leashes and inform customers that " In order for the hand loop to give way or tighten on your hand or wrist the integrity of the whole leash has to give out." Meaning that it's stable, strong has less medicinal parts to fail.
You can attach a bleed knot in the hand loop AND the thump snap on the same leash.
...And it looks nice, cheaper (Even by .04 Cents) and faster. And better in IMHO.