Cutting is basically down to edge geometry, and how long it holds the edge is down to metal composition and heat treatment.
I have an Eland that is 5¼" of razor sharp cutty goodness. Sure the 4116 doesn't hold the edge for a long time, but it resharpens easily too. Heck, I have a couple of Spanish navaja that take a sharp edge easily on 420 steel. I've never used them for more than cutting paper so I don't know how long they'd hold that edge of course.
Put the old AUS8 4" clip point Voyager up against much more expensive knives with their chunky sharpened pry bar blades and it'd cut rings around them, at least until the edge faded. On the other hand an Opinel #8 would outcut the Voyager and even when the edge faded the sheer thinness of the knife would keep it cutting quite well.
Cold Steel make good cutting knives, just like Spyderco do. They do these lock test videos because, from the start, their shtick has been making strong knives. Do they need to be that strong? The ring lock on my Eland is more than strong enough for my usage, and if we want to talk about using a knife as a weapon, it's likely that more people have been injured or killed with cheap Okapi ring lock knives than with Espada XLs. They don't need to be that strong, but Cold Steel put their money where their mouth is and make them that strong, so they're going to advertise that fact.