Jason will certainly know if there is a problem with the steel, so I'm sure there is.
But my experience with M390 has been excellent. I just did some hard chopping (about 20 times) on a hard, dry piece of wood with my Barrage 581, which has an M390 blade with pretty acute geometry. I have it profiled to 30 degrees inclusive. The edge shoulders are 0.0185 inches. So that blade has more acute edge geometry than Jason's Ritter, and I'm fairly sure I stressed it harder than Jason did. The edge shows almost no damage. With a 10X loupe, I can see a couple very, very small rolls -- almost invisible. No chips. I noticed only after slicing paper and felt a little roughness.
Sounds like Benchmade will get it taken care of.