In reality, I like numerous steels. Some 10xx are good, depending on a few things I suppose. I particularly like tamahagane for numerous reasons. 1086M is cool stuff IMO, anything that is a good pattern weld is grand. I like 52100 and 5160, L6 and S5. I like steels that will rust without too much difficulty because I like taking care of my blades. I especially like shallow-hardening steels.
Of course I'm not fighting chain-wielding gangbangers in the jungle, nor am I cutting steel cable in the middle of the ocean. I'm not intentionally destroying the blade, or inducing rust upon my own accord. For the people who do, and the people who have delusions of such, a more rust resistant knife would be called for. Versatility means relatively little to me, I don't intend on using a knife as a screwdriver, prybar, chisel, microphone or vibrator.
Does that mean I like sacrificing quality? Nope. Not at all. I like top notch stuff.
I just have different intentions than some folks.
Shinryû.