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Unfortunately it's received some bad rep since its use in the knife market, especially models from Zero Tolerance knives(who is basically the same company as Kershaw). People reported the edges on the blades were quite unstable, causing frequent dulling after minimal use. After sharpening numerous times people found the edge retention improved, concluding that ZT/Kershaw are likely overheating the edge during grinding. My ZT 0801 exhibited the same issues as well with the factory edge losing out to AUS-8 while cutting cardboard.
This was a couple years back so maybe things have improved since then? I have heard some high praises for Elmax on custom knives and such, but it remains pretty unpopular for folding knives compared to M390 despite the similarities.