Well, gosh, is it possible that there could be a better piece to play the role of a Knight than the Knight itself? Of course not. The FIDE-chess Knight is perfectly suited for the role it plays, and it starts the game on the best possible starting square; and from the standpoint of chess-value-theory, it uses one of the simplest possible moves.
In addition, the levelling effect is particularly strong in the Knight's case because the Knight can attack the Bishop, Rook, Queen, or King, without being attacked in return; at least when both sides are using the same army!
What a wonderful piece the Knight is! In every game of Chess with Different Armies, the substitute for the knight is slightly weaker than the Knight (not in actual material value, but in the starting position and ease of development), and the difference is made up by making one of the other pieces a wee bit stronger than its counterpart. This had to be done, because the Knight is just so perfect that it cannot be equalled.
As you see, the Rook is another example of a piece whose powers and starting position are perfectly suited to its role in the game.
The idea of endgame advantage has some effects on practical play.