Maybe they used the strop to maintain it and when it got too dull they just tossed it aside and got a new one? Or, they had enough in the rotation that nothing really got dull.

It seems as though the thought you were talking about a sharpening stone used for knives and/ or tools and not a hone of fine grits suitable for razors?...

What bothers me about the story is someone won't invest a mere $500 into their business. That, to me, doesn't really say a lot. Perhaps I am misinterpreting, but I am wondering if this is $500 for the business or for individual and per year or one time? Either way it is a small investment to be able to offer something great to your clients. I mean, at $10/ shave, you will earn your money back rather quickly. Unless, of course, they are just that slow and lacking of clients.

Other than the experience and relaxation, having a shave at a barber shop really isn't all that. Then again, I've only had one.