Steels are important to a point in a scissor, and when combined with high-quality machining and design you have a beautiful cutting shear ready to provide excellent performance for many years or career depending on the quality of service the shear receives.
You should never purchase a scissor with a stainless steel rating of less than 440C. This is an industry-standard for stainless steel in hair cutting shears. There are a few entry-level shears made using 410, and 420.
Cobalt Alloy Steel is abrasion resistant and will give increased blade retention, and a longer last edge. These shears can also be machined to a finer edge and have the steel hold the edge the result of adding Cobalt Alloy.
They often cost more due to the increased labor costs of finishing and polishing and extra abrasives used in the finishing process.
Cobalt does have some categories and some companies use there own. They include Cobalt Alloy, ATS-314, V-1, V-10 and now they are using a powered Sintered Cobalt Alloy that is expensive but has excellent performance, and with the use of the sintered powered steel process has great quality control when producing it.