Here’s an answer you won’t hear too often: because I don’t need stainless or super steels. I get tool steel for free (or so cheap it might as well be). My current preference is for L6, which traditionally is sawblade steel, although sometimes used for other tools as well. Anneals easily in my woodstove, heats easily in my propane forge, grinds easily with ordinary abrasives, and is forgiving of my primitive heat treating methods.
Once heat treated, I can easily sharpen and resharpen it to a keen edge. I cut stuff, when it loses it’s keen, I touch it up and cut stuff again. Not scared of sharpening, grandpa taught me at age 6.
I don’t sell knives, I make them for my own use, and sometimes I give them away. Occasionally I’ll make a sentimental one, like the one I cut open my father’s ashes with.
I don’t have the skills, knowledge or tooling to make knives from Magnacut (no offense, Larrin). But my crude farm-forged knives cut what I need to cut, without engaging me in interstate commerce, and it’s fun for me to make them.
I’m a simple man. I wear simple clothes, I eat simple food, I drive a simple truck, and I cut things with simple knives. I’ve reached the sweet spot of technology that works for me, and I am content.
Parker