the noted implication is they are default and cheap and not durable.
"higher end steels". that doesn't MEAN anything you know. more than a few companies use 1095[cv] and it's a GREAT steel for the job, ESSE is fond of it, as are a lot of people.
"weird" steels like s35v? or 51200, or 5160, or others? they have their selling points. none of them are "better" than the others.
it's got iron, it's steel. steel is known thing these days. not many surprises. the industry has pretty much cranked through most of the combinations already. the biggest deal is heat treat, and how hard can you go (or want to go).
crystalline metals, like titanium? surprises may happen.
weird stuff, like Stellite (and its cousin), tungstens, and all that? yeah, pretty stuff stuff. again, not necessarily better, or worse. it's all context. some people hate them. can't be field sharpened. most people can't sharpen them at home even.
ceramics? interesting times.
now, if someone comes up with a spectacular breakthrough? we'll see. material sciences in some regards are a very slow area now. we've actually gotten pretty good at making some great stuff.
maybe we can mix some exotics, like osmium with titanium and a smidge of tungstens, and have a blade that never dulls. or maybe we get some expensive failures