We can speculate ad nausea about the primary role of the "carraca" mechanism but technically there is a clear reason for it: SAFETY. More exactly to ensure a controlled closure of the blade all the way.
While for a small or "normal" size pocket knife controlling the closure of the blade is not a problem, for a 30 cm (12") blade (quite common size for the fighting navajas) the accidental closure from an incomplete opened position can be disatrous for the owner's fingers. Hence, the necessity to provide the knife with additional safety.
All this said, there might also be the dramatic (whether intimidating, warning or simply flashy) effect of the "carraca" sound when opening the navaja.
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