Step drills are obviously for mat'ls thinner than the steps are spaced, tool belt hand drill stuff and 1/2"-3/8" shanks are your first clue. They're intended for tradesmen/women to carry vs a full set of Silver & Deming bits &/or hole saws, and they're not espected to last long, just be easy to use. Not automatically an HFT thing when even the best don't last.
I use an Earthquake auger, by myself for 10" holes in the ice, with help for 4" & 6" in rocky soil. 3 revs & lift while still spinning just isn't that easy for one person.
Any tool can be used the 'hard way'. Trying to do too much with too little just makes the job harder. btw, step drills are easy to sharpen with the right setup for proper rake in the flute. You just push the grind back radially vs axially. (you knew that)