I much prefer 154 to S7 in a small EDC style knife. S7 is not great as far as edge retention(although they do a hell of a job on the heat treat)and I don't need a 3 inch knife that I can hammer into a cinderblock. I do need one that does not need a lot of edge maintenance and if it is going to be worn close to the body it should be stainless or coated.

The only Busse steel that would make sense for a little knife like the Muppy is
SR101. It has great edge retention but terrible stain resistance.

Also one reason for the tip on HD's HC broke could have as much to do with the shape and width of the tip as th steel. It was a fairly wide flat point.
I have 2 small S30V Striders ,one which would pass that test easily and another that would almost certainly fail.

I have noticed that the Dogs and Rats have been getting more practical ,less thick
and more like actual knives than entry tools. Really we should be comparing these knives with other similar knives like Fallkniven or Strider. The new Chris Reeve Professional Soldier is a great example of a similar style knife to the HC. Compare the Muppy with any other similar knife and it looks pretty sweet.
Sub 100$ ,mudder handle and a Scrapyard warranty.

I hope this trend of more practical using knives continues. I would still like
a CampTrampLE in S7 but I would also like a skelly neck knife in 154.
More options does not hurt anyone.