It's like the different elements of controlling light on a DSLR camera. Blade steel is just one factor in how I decide on one knife over another. Ergonomics, edge geometry, price, other materials used, designer, brand reputation, and if I'm being honest the
look cool factor is important too. The steel choice becomes a factor for use and price. I have a few knives I've relied on that are made from Aus 8 (Spyderco Walker, Ontario Rat 1, and Cold Steel Tuff Lite) and and I have no problems with them, but I'm not paying $200 for a knife made from Aus 8 steel either. I have one knife with 8Cr13MoV because I liked the design (CRKT Pilar), but I stay away from that steel because of who is using it the most. Now I'm looking for 12Cr or better.
A lot of my choice of steel comes down to trust in the heat treatment from one company versus another or in the case of companies like Boker different divisions regarded differently, especially with D2 and 420C. If Buck has a made in US fixed blade with 420C I'm good with that, but if they make it elsewhere or other companies are using it for their mass produced budget lines I'm a bit less interested. If Benchmade makes something with D2 I have no hesitation regarding their choice of steel. It's not purely about geography either. Gerber could make a knife out of mithril and it would still be a hard pass from me. I really like my Real Steel Luna Lite (D2 blade, made in China), a slipjoint which gets a work out as the designated kitchen folder where moisture can be an issue, and it's probably helped out a lot by its blade geometry. For all the companies using D2 to make folders, there should be a lot more thin, slicey blades out there than there are.
But what if they want to baton with it? shouldn't be a consideration for small folding knives.
If the same knife has different blade steels to choose from I'll do the research and decide which is best suited for what that knife will be used for. Sometimes I'll choose a knife steel just because I don't have a representation of that steel in my collection yet. This happened when I chose Sleipner over M390 for my LionSteel M5 or chose the Artisan Cutlery Arroyo over a similar knife in D2, because I wanted something made from AR-RPM9 (not because it's the best but because it's different).