Japanese Kitchen Knives?

What makes Japanese kitchen knives worth between $300 up to OVER a THOUSAND DOLLARS for one knife? I was reading an article about cooking by a chef and he talks about knives: "I personally prefer Japanese steel in my knives but there are also some excellent quality European knives as well. For those... show more What makes Japanese kitchen knives worth between
$300 up to OVER a THOUSAND DOLLARS for one knife?

I was reading an article about cooking by a chef and he
talks about knives:

"I personally prefer Japanese steel in my knives but there are also some excellent quality European knives as well. For those with the big budget I strongly recommend Hattori knives (go for the HD or KD series - they will cost upwards of $300 a knife). The knife pictured above is a 27cm Hattori KD Chef’s Knife ($1,175)."

Can anyone explain to me why I should buy a $300. knife
when to me, a $8.00 knife seems to suffice? And it last
for years too.
Update: By the way, I omitted the picture. Looks
like an ordinary Chef knife.
Update 2: I don't like all steel knives, they rust
too easily. Even the expensive ones.
The only real advantage is that when
you sharpen them, you can get a keener
blade than with alloys.
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