I guess Mercutio mentioned the axe specifically so we could cut to Boone, God's Friggin' Gift To Humanity trudging through the jungle with it (because otherwise we might not know that it's an axe), catching up to Locke, who's pleased to see Boone got it. "Isn't there an easier way to get there?" says Boone, and Locke says something about how the easiest way isn't always the best, like maybe Locke wants to get back in his wheelchair if he wants such a damn challenge all the time, and then he argues with Boone a little bit because Boone is a little hesitant over whether anybody saw him take the axe, until finally assuring Locke that no one did. "Good. Let's get to work," says Locke.
Back on the beach, Rose is dragging some stuff from the beach along the path of greatest meddling potential, which is right in front of Charlie. She says hello, and he doesn't even look up, and she's all, "Oh, that's right. You're not talking much these days. But it doesn't mean you get to be rude." That gets a response from him: "Excuse me?" She points out that everyone is helping move the camp up the beach, except for him. "Are you serious?" he says. "You think you're the only one on this island's got something to be sad about? Baby, I got sob stories for you, so why don't you grab the end of this thing and help me." He takes his sweet time before getting off his ass and helping. He's probably thinking the same thing I am: of everyone there, Rose is probably the last one who gets to give out lectures to people for sitting and staring at the sea. But anyway.
Okay, I'm still not sure why Mercutio brought up the axe if Sawyer was just going to be bashing the briefcase against rocks. I mean, was there supposed to be a scene where Sawyer went to look for the axe and the group finds out it's missing and gets upset about it? What was the point of that, if we're just going to cut to Sawyer dashing the briefcase against rocks in the jungle? He tries this for a while, before climbing a little cliff and throwing the briefcase onto the rocks from up high. And he mutters, "Impact velocity," and "physics, my ass," and "son of a--!" and "unbelievable!" so I'm guessing this was supposed to constitute the comic relief portion of this episode.