I understand that, and I agree. In the 1980s CPM 154 was THE trendy steel for custom knife maskers. It is just as good today as it ws in 1984 or so, but today is out performed by other, newer formulations.
In the automotive world there are similar relationships between the "old" and "new". In the early years, Ford's Model-T was ubiquitous despite the presence of cars with Nore comfortable interiors and more sophisticated mechanicals. The Model-T today can be had either as an historic artifact or as a newly manufactured near-copy. It does the same work-a-day job on the road as was the casse in 1915 ot '20: crank starting, hand throttle and 30-ish mph top speed.
A similar sort of analogy can be made for the Chevy Corvett. From the introduction of the C-2 Stingray in the 1960s through the next five model types ending in the C-7 (don't recall the nomenclature) in the 2000s. each one was an upper-end Americans sports car at a real world price that could arguably compete in international racing. The current model (C-8) is now so sophisticated and expensive that only Jay Leno and other folks of a similar lifestyle scan reasonably want to own one . . .but they know compete with Fearries and other million-dollar super cars at retail, and o the track. But the 1960s "split window" Stingy will still do today what it could in 1965.
Similar analogies can be made for computers, their operating software and even video games. As with csars, there may be active aficionados for older e-stuff, but no one uses them for contemporary day-to-day computing.
Why make a knife from a steel that was, 80 years ago, considered to be the top end performer in 1945, when so many better performing options are available today? In my mind, this particularly applies to any high-end., premium knife maker. Why would Chevy continue to make the 1958 Corvett or any of the later iterations?
After this post, I am going to drop the topic, I think. My thanks to all for sharing their thoughts on this thread.