Not discounting the idea that a carbon steel's oxidation, at the edge, will degrade sharpness. I'm sure it happens to some small degree. There was a time when I believed the issue to be a lot bigger than it actually is.
The earlier comment about elasticity of the steel sort of touches on something I noticed a while back. I used to notice blades that (apparently) would go 'dull' just sitting in storage. But in my case, I think much of the issue revolved around not adequately cleaning up fine burrs, wire edges or other weakened (and ductile) steel on blade edges. I'd sharpen a blade, then 'test' it by doing some cutting in paper or whatever, then put it away for a while. At some later point, I'd again pick up the blade and noticed it was 'duller' than before. Fast-forward several years, after I'd gotten a better handle on stropping to clean up the burrs, and virtually all of these issues I'd noticed years before had disappeared. It was then that I came to the conclusion I was probably folding over some fine burrs/wires when 'testing' my edges in cutting, and not noticing it until picking up the blade again some days or weeks later.
With 1095 in particular, I know some varieties are much more ductlle or soft than others, depending on which maker did the heat treat. Also, with 1095, the steel should be able to take an extremely fine edge; one which can often be altered and/or improved simply by stropping on one's jeans. When the edge is fine enough to be affected by something so seemingly gentle, it's not hard to imagine that a simple cutting into paper or other relatively easy material might also alter the edge in a negative way, like folding the fine edge over. The relative thickness of the edge geometry will make it even more noticeable, if the 'sharp' burr folds over and leaves a wide-angled and fairly blunt apex behind it; cutting performance will drop off a cliff.
The bolded part above seems to indicate an extreme loss of sharpness (between shaving and later not catching a thumbnail) in a short span of time. To me, that points more to a burr/wire folding over quickly, or a thin edge that's too soft to be supported by the steel's heat-treat, as opposed to oxidation/corrosion causing the edge to degrade. If corrosion were doing this at such a rapid pace, I'd expect to see more obvious evidence of rust/oxidation on the rest of the blade as well.
David