How Did It End?
So, in the alternate world where Winnie wasn’t born, it wasn’t just her best friend, their boyfriend, and their grandpa who died. Winnie’s brother was also killed, and we learn that broke David so badly that he willingly became Henry’s minion and killed multiple business owners and their families. This was all done so that Henry could buy up their property and eventually take over Angel Falls to the point he controlled everyone.
Now, from what it seems, he has a spell on them, but we’re not shown anything explicit regarding Henry having powers. We’re told the death of his wicked soul is what allowed Winnie to jump timelines, but in life, Henry doesn’t show the ability to teleport, lift people up, or anything like that. Thus making it easy for Winnie and Bernie to defeat him.
But before they defeat him, the two grow close, kiss, and seemingly fall in love. For with learning Bernie is into fashion, her love of fashion matches Winnie’s love for photography, and with them both wanting to go to New York someday, they bond. Add in Henry killed Winnie’s brother and destroyed Bernie’s family, and it makes it so when they are punching Henry and later on kill him, it is a cathartic release of the highest order.
And once he died, Winnie returns home, and while she is happy to see her dad, her mom not be a drunk and sleeping around, as well as her two aunts, then she is reminded of Bernie.
You see, in the world without Winnie being born, things were mostly the same, pushing the idea she really lacked impact or influence. But, when it comes to Bernie, in the alternate world, we learn Winnie came into Bernie’s life just before she was going to kill herself. So once Winnie returns, she fears the old Bernie, without knowing Winnie, would have attempted to kill herself or is already dead.
Luckily, when Bernie kissed Winnie before she was transported, she was taken to Winnie’s timeline, and it seems those two will pick up where they left off, just with Winnie existing and having her family.
Is There Sequel/ Prequel Potential?
Considering “The Angel” didn’t have any powers, easily “It’s A Wonderful Knife” could follow the “Scream” narrative and have new people get the costume and pick up the knife due to wanting revenge. Henry had a brother in Winnie’s original timeline who lost everything when his brother was killed. He even threatens Winnie since everyone knows Winnie killed Henry before he could get away with his murders. So, that’s one person who could become a sequel killer.
On top of that, who is to say Winnie and Bernie, considering Bernie is a huge nerd, may not look into a way to save Winnie’s best friend and go from jumping to a different timeline to messing with theirs? There are multiple ways this can be handled, and while nothing about the film makes this something that has to be done, you see room to expand and potentially make a franchise.