Half the power of an axe comes form sheer weight on impact, like a sharp hammer. so a heavier axe is a better axe within reason. and that edge has been meticulously cared for, possibly reinforced with a better material for cutting.

I think I may have confused that meteorite metal for Damascus steel, which is just a refinement of wootz steel. Made in Damascus. Since lost to time, but there are some who are working to find it again. Who knows, maybe we can all go on a relic reborn quest IRL soon lol.