Apart from Bromptons the number of steel framed bikes sold in the UK per year must be very small compared with the number made from lighter materials.
The only people I see riding steel road bikes are older riders riding the bike they bought in the 60s and 70s and people on “retro” rides.
The young demographic buys aluminium frames with carbon forks or all carbon if they can afford it, like their grande tour heroes.
Undoubtedly steel, if looked after, does last and has other advantages.
But steel today is a niche market for road bikes.
I wonder how well a futuristically designed carbon Moulton would perform in the Team Pursuit?
I suspect it would do very well because of the drafting and resistance advantage so long as the suspension components could be kept to a minimal weight.
ALL OTHER THINGS BEING EQUAL, the lighter the bike the easier it is to propel just like cars aeroplanes and ships.