When steel quality varied widely between batches, you needed a reliable way to mix it up so that the overall properties of the resulting object were predictable. This evolved into a more sophisticated technique that gave you not only predictability but differential properties (harder steel at the edge, more ductile in the spine) and a pretty visual result.
The batch variability problem isn't a problem any more, and we can get differential properties with very precise heat treatments now, so all that's left is the pretty visual result.
So, if it appeals to you; great! Just don't think you're getting anything that's super magical above and beyond what a modern alloy can do.