Why are Condor making steel race bikes if its such a bad idea?
And they have been winning Elite races on them!
There'll always be a market for steel / handbuilt exotica or even mid-range stuff. Some people just like it and not everyone who buys a road bike races.
And the Elite guys sponsored by Condor (Rapha - Condor - Sharp) are all on carbon.
My road bike is alu but it weighs less than 17lb which is lighter than a lot of cheaper carbon bikes and it still holds its own. I won a 2/3/4 crit a few months ago on it actually and I've had some reasonable results in road races and other crits.