Just because something seems more comfortable with initial use and seems to shave better doesn't make it better. I would challenge anyone here that if you take two razors, lets say an old genco from around 1900 and say a brand spanking new TI Silver Steel and spend the time to hone them properly if you were blindfolded and someone shaved you, you would not notice any difference in the shaves. For most of us there are many variables in shaving. Each day is different and most of our razors are honed to a slightly different degree of sharpness just to mention two things.
But whether the actual razors of yesterday were better steel thats a different issue. I collect watches and most modern mechanical watches are more accurate than those made 80 years ago but thats because modern ones are all CAD designed and parts are machined with high tech equipment while the older ones were designed the old way by a guy on a drafting table and older machining methods so the tolerances now are much tighter. However modern watches some think use components made from softer metals which have a very thin case hardening on them while over time will wear and that spells trouble. The older watches used a better quality and harder metal to begin with. Many doubt modern watches will last more than 30-40 years with constant wear while older models seem to go on forever.