I think that's the biggest misconception, I myself had prior to using the micro dick as well. I thought the exact same thing until Marco Guldimann introduced me to the possibility of using this exact honing steel for way harder (carbon) steels [F.DICK DICKORON MICRO].
So I use my 65hrc 1.2519 or 67hrc Apex Ultra comfortably for roughly one year. Plus/minus. I'm cooking for four persons mostly from scratch and do pretty much everything with said knife over that time span. With the honing rod I can maintain a razor sharp, tomato skin destroying, edge. After about one year, the edge is "worn out" and can't be maintained with the rod anymore.
Also I want to mention that high alloy tool steels like M390, Magnacut and similar can't be maintained with it. I guess mainly due to the amount of carbides. So even if they aren't as hard, it won't work as good or pretty much not at all.
Anyways... The benefit of the rod to me is mainly that I keep the original edge, and therefore the intended geometry of a knife, as long as possible. Whereas it seems to me, that mainly my US customers tend to go straight to the stones as soon as the knife might have lost the tiniest bit of sharpness, for some reason. That of course grows the edge, and "destroys" or disrupts the original geometry unnecessarily and makes thinning necessary way earlier.
Don't get me wrong. I'm a sharpness freak as well. But with the honing rod and proper technique you get that. Freak sharpness. And the benefit of longevity of your knife.