Wear resistance has more to do with carbides than hardness. The reason wear resistance and toughness are on opposite sides of the scale is because as you add to wear resistance with carbide volume, you are also adding weak points in the steel matrix that are more prone to break and crack leading to chips etc.Wear resistance is generally about hardness. Most metals by themselves, including iron, are quite soft. The hardness comes from the amount of cementite and crystal structure formed using carbon (carbide) or other elements. Nevertheless, the harder they get, the more brittle they become. Cast iron is extremely high carbon (by steel standard) iron alloy, it is hard, but can't be used to make blade as the edge will break into small dust easily, due to the tiny chipping.
Hardness can add to edge stability to a point, but also reduces toughness.
This is my understanding anyway.