Did wootz simply fall out of preference because pattern welding was easier process?

It is safe to assume that wootz fell out of preference with the changing times and changing technology. The same can be said for many/most "ancient secrets".

With steel, and most things in life, i believe you will find different answers based on opinion, preference, and situation. Having not worked with wootz i cannot speak to it but steel is vastly situational.

Does a Howard Clark L6 bainite katana cut better than one made by famous Japanese smith of past or present? Not really but both the steel used and the heat treatment process does have it's benefits given it's intended purpose.
If you could put a great edge on a razor made of tungsten carbide, would it shave well? Maybe, but is it a practical steel to use for this application and what would be the down sides of using it?

These are subjects that could be, and are, talked about in endless debate.

Pattern welded steel, and Japanese swords, hold more aesthetic value when compared to monosteel. But If properly manufactured, their aren't any major differences between them. By saying this i do not mean to diminish swords or razors made by competent smiths by any means. I would love to own a Tim Zowada razor and i currently do own two nihonto (Antique Japanese sword). Both i consider art objects but the razor i would actually use for it's intended purpose.