I think there are always people for whom the process (of sharpening, or cutting dovetails, or mortices or many other operations) is as interesting and enjoyable as the product (what is made from the chisels). To each his or her own, I suppose. We are all in this passtime, for different reasons, with different goals. I knew a guy who had all the tools and kept them all sharp and ready, but he rarely made anything. Another guy makes stuff constantly and if you look at his tools you wonder how could this output could be achieved with such a limited kit. Of course between these two extremes you have everybody else. No wonder there is no real consensus.
I do enjoy the threads, (well those that devolve into personal attacks I can live without). I enjoy people sharing their methodology, and how they developed it. I usually learn things. As I mentioned, I use diamond stones mostly for bench planes and chisels. For everything else (carving tools and molding planes) I use India/Arkansas stones and a strop. I have a Tormek system for turning tools and occasional rehab projects, and I have a power stropping setup for touching up the edges of carving tools.
For the work I do I can get any of my tools sharp enough. If I anticipate a difficult cut, I make a special point to get the edge really sharp, a couple swipes on the strop is just right usually. I doubt that my tools would win any competitions for sharpness, but since this is not my goal, it is okay.
But for some guys, getting the sharpest possible edge, or a perfect dovetail, (even on the back corner of a low drawer) IS the goal.
DC