I dunno 'bout that: Ruger rolled out their SR1911 ........ Steel.
And their new .22 sp101. Steel. They are sellin' all they make......
The 1911 is a hundred year old design. If Ruger's SR pistol series had steel frames, it would be a little different. Revolvers are still mostly steel, but they're working on it.
It may well end up being like the watch industry: you will still be able to buy a finely crafted timepeice, but most of the dumb masses will be just as happy with a $5 digital disposable piece of plastic with a chip in it.
That would be fantastic. If plastic means the pistol will be at least an order of magnitude more accurate while costing several orders of magnitude less than a steel version, I'd be all over it.