I would put out that Toughness is more important depending on application. For a blade designed for chopping or that will see significant lateral stress on thed edge, definitely. A "combat" knife (I hate that term BTW), sure, increased toughness is likely to be more useful considering likely impact with hard materials like nails, rocks and such. To be honest, I found more use from my Spyderco folder (ZDP-189, or 440V) than from the "combat knife" I had on deployments.
However, for a blade designed to be used as a slicer, or for tasks like meat processing, cutting line (had to cut plenty of 1 inch nylon rope and mesh tubing on the small boats), and for what I consider normal EDC tasks, higher edge retention is desirable and I am willing to trade ultimate toughness for the edge to maintain a useable apex for longer.
Another example of this is CPM 10V. I love 10V (A11)! wish I could get more of it. 10V has been used for wood working and in professional wood turning tools for decades. I would definitely not consider 10V to be a tough steel, and yes edge geometry plays a significant role here, but a wood chisel is still a relatively acute cutting edge. A wood working tool made from 1084 will work, but require more time maintaining the edge than 10V. I wouldn't want an axe made from 10V, and would prefer a simpler carbon steel for a machete, but that is why there are so many choices out there!