That could be it. It could simply be that they've tried the various options and like steel. Me? I think the reason is a intractable conservatism: they truly believe that there cannot be improvement to traditional materials, that the state of the art plateaued in the 70s or 80s. Heck, maybe the plateau started in the 60s, because there's really been no "major" improvement in steel technology since then, just small increments.

I love progress, new technology and improving on what we have. I even like that new thing called the WWW that seems to be so popular these days, and I believe we will have even better bikes and better mass communications in the future, and am looking forward to trying as many new things as I can before I die (in about 25 or 30 years).