Steel mountain bikes aren’t popular. At all.
The original bicycle frame material is a very niche product in contemporary mountain bike design. Established brands offer expensive carbon-fibre frames, with fantastic weight-to-strength ratios, or value bikes in aluminium.
For the most discerning mountain bikers, those who seek a sense of individuality in their ownership and who value durability, the option is to go for a boutique brand. These independent companies produce much fewer bikes per year and they are most often made from steel.