My main hard use folder is a 710HS. I have an 800HS and an 812 HS that are also users but not to the level the axis gets.
M2 takes a great edge, and holds it well, reasonably abrasion resistant, about like D2 on both counts, maybe a bit tougher but not by much (which is to say it's not a super tough steel like CPM 3V).
When new, I'd only get an occasional spec of rust on the exposed edge/steel.
Now, after much use indoors and out, large portions of the black coating are worn off. I have light rust specs that are kinda down in the grooves... once the black gets worn off, you'll see that the blades are machined multipass and left where you can see/feel the tool marks. The black coating goes on and fills in those tool marks, leaving a smooth finish on the new knife. I just wash blade w/ soap and water, and I guess if I really tried to keep the blade oiled I could dodge some of the rust specs.
Does it bother me? Not really. I've gotten rust specs on the edge, but they sharpen right off.

The little rust and patina specs on the rest of the knife could be buffed or polished out, but why bother in a hard use knife?
Good steel, but overhyped by many, like many steels. Beats most though, and it's about as hard as a production folder comes, with a target hardness of Rc 60-62 by BM. That counts for about as much as anything.