Some things remain popular not because of what they are, but because of what they are not. A steel like 1095 is not the latest hot lick cutting edge steel. Yes, there are many new steels that will out cut it, and may well be tougher. But what 1095 is, is a very time tested and reliable steel that makes a lot of sense for a traditional knife. It's plenty tough, as testimony from millions of military issue old TL-29's and Camillus MK2's would give. It's easy to sharpen and maintain in the field or work place. You can, if need be, touch up a 1095 blade on a smooth piece of creek stone, and it will hold that edge pretty darn well. The old 1095 is a hundred years old, but is still a viable choice for a cutting tool. Most industrial cutting tools and scrapers are made from it. You could say that 1095 is the Smith and Wesson model 10 of the steel world.
The old model 10 came out in 1899. In 1905 it was chambered for the new .38 special round. For the next 80 years it was THE police issue handgun. It's now long out of favor for all the popular Glocks and SIG's, and HK's, and Berretta's. But in the hands of some who knows how to shoot it, an old model 10 is still a very viable defense tool. It still works well at it's intended task, just like the old 1095 steel. For someone who is interested in buying an old style traditional pocket knife, by virtue of what they like, the newest wonder steel of the month is not needed. The buyer of a stockman, or sodbuster, or jack, is wanting a time proven artifact, just like his grandpa maybe used. Most likely, his grandpa back on the farm got by very well with an old 1095 bladed jack. But then, his grandpa never knew how under knifed he was.
Today, all the qualities that made 1095 a popular choice for knife blades is still valid. The steel ccompamies, and the knife companies will continue to come out with steels for the steel snobs out there, but are they really Better? Will that UPS box be more difficult to open with a nice sharp 1095 blade than the wonder steel of the month? Probably not. But if I am carrying a traditional knife, I want a traditional steel. As for toughness, I think of all those Marines who fought their way island to island across the Pacific, and all the 1095 Kabars hanging off webbed belts. As my old scout master would say, 1095 would do to go up the beach with.
Carl.