For $500+ you can get a really, REALLY nice Damascus steel chef's knife with a beautiful patina and wood handle. Yes: it requires a bit more maintainable but nice things often require some work. When it's properly honed & sharpened, it'll cut just as well as this.

So you're basically saying that you can spend as much money to get a knife that will cut as well but requires regular work put into it, whereas this doesn't? I think that's the whole pitch here...