A top knife maker commented, "Custom knife makers may not want to hear this, but about any knife steel can make a fine knife."
I myself prefer steel that is uncomplicated tahtI can work myself without fancy equipment, or treating in foil. 'Custom,' to me means I made it. If I send the steel out for heat treat half of what makes the blade is someone else's work. Few Knife users will appreciate the difference in knife steel abilities. Some might, but not so many, as long as it meets certain standards.
My personal standard was why I got started make my own . My knife has to be able to skin a moose and get the job done without having to stop to sharpen, because it is often 30-50 below zero. I found no factory knife taht could do this and could not afford a good custom so made my own. It did not work at first! Eventually I got to the standards I am happy with. use either 1095 or D2. Depending what I want the knife for. I'm happy with just these 2 steels.
For most knives sold, after about $100 on up to maybe $300 the steel is not the issue, after this we sell for the name and the 'fancy.' The artwork. It is possible for a $300 knife to have the same quality steel as the $5,000 knife. In terms of going out to butcher a moose. So there is a top amount to put into the steel.
Exotic steels are fun, and I can see others might like to focus on experimenting this direction and go for some special steel. Nothing wrong with this. There are some exact uses some top steels will be good for combining qualifies used for just chef knives or as one customer asked me for "A knife to dig arrowheads out fo trees." He wanted a jade handle. Hmmm. In the end he liked a $100 blade he could beat with a hammer. No jade. I loved old crosscut saw blades of L6 for a long time but it stains just by looking at it, not great for kitchen knives. So moved to the D2
I feel few of us could say, "The knife is no good because it is old school steel." I have heard, is it true, that plain cheap 1084 often wins the knife test competitions top knife makers enter. Split the board, cut the rope, like that. Is this true? If so, doesn't this speak for itself? If so this means to me "learn your steel, get to know it and work it right and you'll be fine." Or, why sped 10 times as much for steel if it is not necessary for functionality? I do spend a lot on hand made Damascus billets, but that is for the looks, or name, not performance of finished product.
I admit I cannot afford high end knives by top makers so curious if there really is a huge difference in performance. I use the brass rod test and am ok with 200 stokes usually get 300 sometimes 400 ad now nd then simply quit, I can not dull it. I can usually cut that rod beating on the blade with. hammer without chipping or dulling. Hunters can flex 5 % with 20 pounds torc. I have no idea if this is horrible or amazing, or waht others get or expect. Moslty factory I get get 30 to 50 strokes. I go by making sure I do better then that. The few custom knives I bought in the $500 range did not outperform mine. The type of steel not seat matter.
However I think I saw a video of some top Japanese sword steel that a dropping silk scarf is cut, just being dropped across the blade. So, there may well be a huge vast difference between ordinary knives and the best, a difference I will never be able to afford to test or see. If Jim skinned a buffler with his bowie, I will be content with this I guess. (grin)