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@Khornight2
^^ You know there is also new steel? It's a lot like the old stuff only... Well better.
Going past the advances in metelugy in the last thirty years, you can get everything that old steel can do with new steel and in some cases more... As mentioned before disc brake tabs are good. Not all new bikes are alu and carbon.
There are two reasons for old steel. Fashion and cost. C'est tout.
(I think all but one of my bikes are steal, ranging from prewar sun/parkes tubing, through 70's Carlton and Dawes 531, to modern genesis, one-on and charge frames. Oh and the 70's holdsworth 501 that was my first fixed)