The Undertaker is WWE's grim reaper, something which this WWF design interpretation took literally. They re-imagined the deadman with a great big scythe. The reason this never came to fruition on screen, is likely down the implied violence of the blade. Even in the Attitude Era, it may have felt a little much if Taker was coming out with a great big blade each week. It isn't as if he would ever have been able to use such a weapon.