This all reminds me of a comment I made when I was admiring a new Colt Python (about 20 years ago), one that had one of their special finishes: "Yeah, it really shows the scratches well."
Not all older guns had high polish finishes, although I cannot speak to the bluing, which I believe may have been a different process (any company, not just S&W). In fact, I owned an old long-action M&P, the ones that so many were made of, yet seem to be quite rare, and it had what I call a satin finish. Not shiny at all, yet quite attractive. I also like the matt finish found some of their later stainless guns but I don't remember having noticed any brushed stainless guns lately. But you should see my 20-year old Model 13. It has a finish that looks like--it's 20 years old. That's what you call a patina.