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We don't have all the info needed to make a good decision here.
We don't know the austenitization info - Temperature and soak time before quench, and method of heating.
We don't know his quench setup beyond the oil type being canola.
WE don't know the blade size beyond thickness. Blade shape and edge thickness would also help.
Here is my take on it from what we do know:
His steel is basic eutectoid steel (.75-.85C, .35SI, .35Mn, .15Cr) The Mn should increase hardenability somewhat, giving a slightly slower quench rate needed. The small amount of Cr is insignificant in the quench rate. I would equate the HT parameters to be roughly the same as 1080.
Thickness is 4mm/.15" (we don't know the length and width, so we don't know the mass)
His quenchant is a medium-fast oil ... canola. (oil temperature and volume not stated)
He quenched for 3 to 5 seconds - pulled out for three to 5 seconds - re-quenched till cooled.
With these parameters, it would likely have hardened the edge then auto-tempered the spine and upper bevel. This is pretty much the method I use for getting a hamon.
My Reasoning:
The quench speed required for 1080 is very fast. Less than 1 second to drop below 1000°F/540°C. At 3-5 seconds it would have had enough time to pass the pearlite nose assuming the quenchant was sufficiently fast to do that.
Canola isn't Park's #50, but it will work for many steels. IIRC, Dr. Thomas' tests showed canola just a second or two slower than Parks#50 and equal with AAA. W108 steel needs a fast oil, but for a small blade it should harden sufficiently for normal use in canola. You need at least a gallon, and preferably 2-3 gallons to quench a normal size knife blade. The oil needs to be at 120°F/50°C.
The stated IN-2-3-4-5-OUT-2-3-4-5-IN till cool, will often give an auto-hamon, and usually gives some auto-tempering. It is a standard quench method for yaki-ire to get a hamon. Many smiths do that method with no clay and get nice hamons.
Final reasoning - If he sharpened and tested it and trhe edge held up it would appear to be hardened sufficiently.
We all get hung up on BEST HT and final hardness, and often forget that simple methods were the standard for 100's of years. When I was a boy, it was unlikely any commercial knife had a blade above Rc55. Most pocket knives were Rc50 or even lower. Today, I consider a HT with Rc 59 to Rc62 after temper the acceptable range for most blades.
To put in terms an Ozark blacksmith would understand - "Just because Blanton's is a great tasting bourbon doesn't mean you should pour all your Jim Beam down the drain." (save it for when your in-laws come, and hide the Blanton's from them)
BTW, there is almost certainly NO bainite in his blade.