I don't think it's an issue of burnt edges. M390/20Cv are not tough steels by any measurement. Top that off with thin edges with the angles you have along with the key here. Plastic banding is hell on edges. If you have any side loads on that edge while cutting at all you have a perfect storm for chipping. Try it at a lot thicker/higher angle if you intend to cut that plastic edge breaking stuff again and do it very carefully. Look at the complaints like yours that stuff has caused over the last 10 years.
Every steel/heat treat/edge knife blade has a limit for every job. That job exceeded the limit for a high carbide steel at high hardness at those geometry s. Either thicken it up or do what many of us do and use a throw away blade on those wretched things.
Joe