All
Does Damascus steel have any real world performance advantage over steel that costs pennies on the Damascus dollar?
Depends on who is making the blade. I'm seen 01, 1095, W1, CPM154, D2 ruined by people that have no business making knives much less selling knives.
I know some are makers are hooked on one steel and a certain grind, each steel and grind have it's specific purpose. Why they do, I'm not sure, maybe just too ignorant to expand their metallurgy knowledge. A knife is a tool, each designed for specific functions.
Same reason there are various modes of transportation, all will get you from point A to point B but each vehicle has a specific intended purpose.
So does Damascus steel have advantages over other steels? Just depends on who is behind the steel. Some people should never monkey around with knives period!