I respectfully disagree with 42... Ease of sharpening is vastly over-rated, especially in survival situations. (disclaimer/disclosure... he sells a lot of low-alloy blades, and I sell mostly high-alloy blades for a living... so there's that.)
Yup--I do sell 'em. But I sell 'em 'cause I like 'em. Note that I said nothing about survival situations. I was actually referring more to utility use--around the homestead I do a lot of cutting chores, many of them being ones where edge damage is something one has to be constantly mindful of. There are only so many hours in the day, and I don't like having to trek all the way back to the workshop to grind deep ding, roll, or badly blunted zone out of an edge. I want to be able to give the tool a few restorative licks with a field hone and get back to the job.
I find that I have rarely needed to merely
touch up an edge in the field--the edge usually holds up just fine for extended periods as long as I don't hit dirt, stone, or metal-- but have had occasions where I have needed to
repair an edge in the field. I find that even on simple low-alloy steels that I tend to have negligible edge wear when performing common hard-use utility tasks where full-blown damage is absent.
Indeed, a thin geometry will allow one to sharpen faster and easier. That being said, I commonly sharpen machetes that are 1075 steel at 52-54 RC to about 12°-15° per side and don't run into any issues with rolling or chipping in spite of them being used for impact on woody targets. Tools like my rabbit processing knife (made from the same steel that Victorinox uses, though heat treated just a tad harder) is able to process many many rabbits without needing any touchup whatsoever, and I use it for all stages of the operation, including breaking work like removal of the head, paws, and splitting the rib cage, all of which see extensive direct edge contact with bone. When removing the head the edge is even laid on the vertebrae and rocked back and forth until the edge finds the gap between and the cut is then made. In spite of this, I've done easily a dozen rabbits without the blade seeing so much as the slightest touchup and it'll still cleanly slice paper.
I'm not saying that higher end steels are without benefit, but rather that I tend to balance performance against price. One does reach a point of diminishing returns with this stuff and it's up to each individual user to determine where their cap is. My point is that very basic steels can actually perform very well, and that in my field experience I would rather be able to iron out damage to a blade easily so long as edge retention is still reasonable. If I hit a rock with a thin high alloy edge above 60RC then I'm probably in trouble, even with a coarse diamond field stone. It means I'm going to have to stop what I'm doing and take a lot of time to get the edge back up to where it's properly performing its task. Then after the job is
done I can work it back up from a "suitable" to an "optimally desired" condition.
The benefits of premium steels is worth it to many people, and for good reasons. That being said, often production knives don't take the steel choice as strongly into account in their designs as they could and so many of the benefits of the steel are squandered on an unoptimized geometry. Just because a higher end steel can be used in a knife with thinner geometry doesn't mean much if it's used in a thick blade. A strong example of this is when companies offer multiple versions of a given knife in different steels with the exact same geometry, and well thicker than necessary at that. Performance specifications are determined by the relevant range of use for the tool. This is why geometry is most important to me first and foremost, and sharpening is one aspect of maintaining geometry. If geometry is compromised, the tool will not cut as intended. Restoring that geometry to a functional level is sometimes time-sensitive. Geometry is limited by material, but also by what the manufacturer decides to do with that material. I would rather have an Opinel or Douk-Douk in my pocket than a Medford, for instance. Yes, I'll have to touch up the knife more, but it's going to cut better in spite of that due to better geometry, and if I have an "oh crap" moment it interrupts my work less. Should the edge dull on the softer knife it still only takes me a few seconds to bring it back up to par.
I'm not saying "go soft" or "go hard" -- I'm saying "go just right for what you need overall." All aspects of performance, including how it fits into your existing system of needs and resources (like how you want to spend your money) play into the decision. I'm just comfortable and fast enough with sharpening that I'm not put out by having to give the blade the occasional extra swipe in order to save myself time when I'm performing a task and things "go all sideways" and the edge needs to be repaired before work can continue.