40 years ago, it was a choice, high carbon or stainless. You can still make that choice, and have literally everything in between. It's no longer a 1 or 0, yes or no, either-or proposition. D2 is "almost" stainless, ZDP is definitely high carbon stainless - so much so, that it would be cast iron if not for modern metallurgy.
So there really isn't a demarcation like there used to be, more of a continuum. Which is a very good thing.
So 40 years ago, for me, I would have said high carbon. I don't find rust to be an issue at all. Now, I tend towards wear resistance and toughness for my uses. And sometimes, I still like "old fashioned" carbon steels as well.