Simply put, the striking aesthetics of damascus steel are its only real advantage in a modern context. The techniques for producing damascus date back to a time when high quality blade steel was scarce; smiths used to combine two or more alloys in order to stretch the valuable material further. As with many things, experimentation led to mastery, and smiths began to experiment enthusiastically with pattern, as well as performance. Modern steel production has come a long way, and good steel is plentiful; these days, the main advantage is its unique, exotic appearance.