Well Ian... yes and no.
While some smiths may use it for its availability, it definitely does not explain why big, major, modern companies use it. Hanwei for example has easy access to other high alloyed steels.
Its exceptional mechanical properties that makes it an almost ideal steel for swords and other bigger blades. From all I know, it has only two minuses:
1. it is rather sensitive to rusting and,
2. it is somehow harder to be worked.
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