It is absolutely true that steel frames reached their zenith well after they have been dropped by the Pelotons on the high ends, and displaced by aluminum on the low end. Reynolds 853 came into being after steel has already disappeared from the Pro Pelotons. Likewise the Columbus Nemo, Spirit and others. In more recent years they introduced the stainless steel Reynold 953 and Columbus XCr - probably every bit as good as titanium bikes. You have custom builders like Rob English, Speedvagen and Rodriguez building steel frames lighter than people ever imagined. Steel frames have never been better.