I always found this folding bayonet design somewhat dumb for the Italians. If they were that insistent on a folding bayonet, why not just duplicate the nice and effective one on their Cavalry Carbines? This is a weaker design, more complicated to make, and doesn't really add any actual benefit I can see.
Mind you they were always about doing weird things with bayonets, their early TS bayonet being a excellent example.