VG-10 is a good all-around steel IMO. It has a relatively high carbide volume, which means it has decent wear resistance and the edge will hold up better than lower carbide steels when cutting more abrasive materials; not as well as D2 or S30V, for example, but it will generally take a finer, more acute edge than either of those, and most find it easier to sharpen.
For cutting not-so-abrasive materials like wood, low carbide content steels like 13C26 at similar hardness will hold an extremely fine edge longer than VG-10 ... but again, VG-10 excels at being an all-around performer, thus a good choice for an EDC blade that sees a range of uses.
Trivia: VG-10 was designed for use in gardening tools like pruners (IIRC) and as such it's reasonably tough for a stainless steel, and has IMO very good rust and corrosion resistance. When polished it has a characteristic, fine orange peel texture, which should be very subtle; my experience has been that if the orange peel grain looks deeper and larger, there was a problem with excessive carbide aggregation and/or grain growth during heat treat, and the blade won't perform like it should.
I would guess that a good part of Spyderco's success in recent years is because of their use of VG-10 with it's good balance of characteristics.