Well, that's a tough question. Yes, they do hold an edge well. General use aside, how often you have to resharpen is also determined by blade shape, edge shape/angle, tempering, and how sharp you want your knife to be.
It is a good steel and some butcher knives are made of 1.4111. It also has its downsides, initially it was designed as a tool steel, I believe. One downside is a lack of flexibility compared to CrMo42V or V60. Also, stainless is not always the best choice for knives, the steel's main fetaure is stain resistance, and that may collide with other wanted knife steel features.
You can compare it to 440C, actually these two are pretty similar, with the difference that 1.4111 has no sulfur at all. The lack of sulfur could also contribute a little bit to it's hardness.
