I think the answer is simple. People like to look for complex reasons many times for the mental exercise. Or they love to hear/see themselves talk. Whatever.

The fact of the matter is that Ti and steel have very similar plush riding qualities. Yet Ti commands a higher ticket price. And although overall Ti might have an edge in durability, if you don't keep your steel out in the rain it should last as long as any Ti.

Non-racing consumers are probably having difficulty justifying the extra expense of Ti, and are choosing steel instead, losing nothing in the tradeoff. Bike merchants probably benefit similarly, moving more product with lower-priced steel than Ti. Seems pretty simple to me, steel really IS real.