The point is where the edge and the spine meet at the front of the blade, and by extension the name of the whole profile that gets it there. Drop point, clip point, spear point and tanto point all describe how the spine drops toward the edge.
Every point name is a description of the spine’s path to the tip. On a drop point the spine curves gently down. On a clip point a section looks cut away, or clipped. On a spear point the spine and edge curve toward each other symmetrically.
The name tells you two practical things at once: where the point sits relative to the centerline of the blade, and how much steel sits behind it.
A point on the centerline, like a spear point, pierces predictably because force runs straight down the blade’s axis. A point that sits high, like a trailing point, gives you more belly for slicing but a less controllable thrust.
A point that sits low, like a drop point, keeps the tip in your line of sight for detail work, which is why it dominates hunting and EDC designs.