The cost of using the better steel throughout was basically higher than the wage of the blade smith doing the more complicated work?
Well, it is a bit more complicated than that.
The people making weapons in ye-olden-times ranged from masters that made high end art pieces for kings and emperors to village blacksmiths.
The steel in and of its self was expensive and rare.
Raw ore was used. You did not just order a billet of pure foundry steel. You melted ore, separated out the different grades of metal, folded and refined it to pound out impurities.
Japanese smith's smelted tons of black iron ore sand to get smaller quantities of quality steel. It took tons of charcoal to keep the furnace hot enough long enough to get the heats necessary to melt the ore into the seperate grades of iron and steel. Just to get that little bit of higher quality steel took a crew of highly skilled experts nearly a week of constant labor. And that was not even the sword making process. Just the beginning of the process. The sword maker still had to separate the grades, forge weld, fold and forge again and again.
High quality steel was expensive, and pretty rare in and of its self.
If you are making steel in ye-olden days, the ore you dig out of the ground is not 1095, or any other clean, quality steel (let alone high catbon, super duper, strong wear resistant high speed wonder tool steel).
It's like production cars today. Your run of the mill car uses steel frame, and aluminum body. Exotics like carbon fiber and titanium, etc, make a faster, lighter stronger safer car. But they are more expensive.
Quality high carbon steel was like carbon fiber or titanium back then . It was there, but more expensive to make and use, and so, used in smaller amounts to save raw material costs.
Another thing to consider, is back in olden times, labor was pretty cheap! Labor was basically the cost of feeding the laborer, and housing him (often poorly, at that!). At least in regards to lower skill. But even the best sword smiths and masters used apprentices for the less skilled menial jobs. Many of the smiths may not have even been free (fudal systems, serfs, slavery etc make for cheap labor).
Just some thoughts.....