The heat treatment of the steel is probably the most important thing for having a descent edge.
A perfect heat treatment on an average steel is better than a poor heat treatment on a flash steel.
Then there are the sharpening techniques which can be a science of its own. I am not using the same sharpener or sharpening the same way my Opinels, my Scandinavian knifes or my big blowies , but I can all get them razor sharp.
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