In my opinion the problem with making an entire hatchet or axe out of 3V is that the properties of the steel would largely be wasted in the handle.
For processing firewood the handle just needs to be a shock resistant means of providing leverage, and wood does that a lot cheaper than 3V.
A thin axe head can chop, but it doesn't split as well as a thicker one. The weight distribution, balance and hang have a lot to do with how efficiently an axe chops, which is why those expensive Swedish models work so well.
They've been making them for centuries and they have the design pretty well optimized.
For a combination wrecking bar and breaching tool an all steel design begins to make sense, if the handle has multiple purposes and weight isn't as much of an issue.