I cannot imagine how. Fully bainitic 52100 will still not be as tough as martensitic 3V with a really average heat treat with proper temp control, and at no hardness will it be as wear resistant. It really doesn't matter who makes the knife or how useless the blade profile is, this is a difference in alloy and not brand. There would need to be too much heat, too long a soak, or too fast a quench, or some really bush league error that a mass manufacturer contracted to makes knives is really likely not prone to.
I have absolutely no use for this knife and will not be getting it, but I cannot find any reasonable way to criticize the steel because of the knife company involved. Crucible makes CPM-3V, Cold Steel has absolutely no influence on that fact. If you like S30V, S90V, CPM-M4, CPM154, etc. then you should not have an issue with the steel choice.
I think you might be wasting your time Man, They just hate on Coldsteel. They will find ways to downplay or hate on it no matter what the circumstances or situation involved.Coldsteel is making a production fixed blade with a larger chunck of 3v then any other big company( As far as I know..The ZT is smaller and more expensive). Unless you go custom this is probably the best/most affordable item with these qualities on the production market. And instead of getting credit or at the very least just being given a second look Coldsteel is just getting downplayed AGAIN.