Theres a PM stamping process where the powder is forced into a mold with a piston at forge welding temps and compressed, boom instant D2 tool, or whatever steel and shape you need. The places iv seen those tools made were DoD companies.
Being close to hill air force base there is an entire set of aerospace industries in utah that fabs tools that way and they just find their way into the junk yards along with that juicy aerospace steel and other fun shit. Beowing, L3, some of the local machinist shops that do work for hill airforce base making parts but you get the point.
This was a chisel, which normally is a medium steel, except it wasnt. I am very cautious with my forge work I anneal, heat let it cool reheat let it cool reheat and then forge, started drawing it out into a large chopper and first hit on a reheat caused the end section to literally turn into hot dust and crumble at a gentle orange.
it cooled and formed martensite which tells me it was an air hardening steel, I broke off some more off the edge to get the clean grains with my fingers. (that bad)
the cracks are somewhat typical of partial cementite which suggests a higher carbon content then 1.5(ish), but it forged like it was 1045, really fricken soft and in my experience with A2, S7, CPM 3v 10v, air hardening steels are a BITCH to hit.

My cellphones photo quality is shite I Apologize for that. you can see a mixture of austenite and some decent martensite on the outside edges but only a very partial transformation, and the grains are massive as well as cementite.
Iv had about 3-4 of these experiences and I went to buying clean steel like everyone else.
You typically see this sort of thing happen when you water quench an air hardening steel at the wrong temp, except this happened WHILE IT WAS HOT.