IMO 12c27 is a fine cutlery steel.
I think it gets overlooked a lot because of the advent of new alloys to the knife field and 12c27 kinda gets lost in the shuffle. It also does not get as high in working Rc as some other steels and high hardness seems to be all the rage these days. The steel, when properly heat treated, takes a really fine edge and holds it for a reasonble amount of time and has decent ductility.
I understand that it is made from some of the purest iron ore on the planet, and this translates into a steel with less problem causing impurities. A definite plus on a knife you trust your life with.
Finally, the Scandinavians are a knife culture, they live in a fairly harsh environment and they have many centuries of knife R&D to draw upon. They say 12c27 is THE best knife blade steel and I personally cannot argue with them at present without doing TONS of painstaking metallurgical research sooo I'm just gonna take their word for it. I have used this steel and it performed well for me.
I hope this helps.
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If it's stupid but works, then it isn't stupid.