Maybe we should narrow down the apps, materials, and style.
Do we want a tactical, multi use tool? Then steel type will be a factor. If we're looking at a door breaching, wire cutting, skull crushing, thrower/melee weapon, my opinion is we're looking at tool steel.
Strictly throwing? Then we need cheapies, from a cheapie supplier, like Bud K.
There, you can get 3 throwing hawks for $24. I know alot of Black Powder guys do hawk throwing competitively, and have the quality competition ones, but they fall into rules and guidelines, the edge can only be so long, etc.
Prepare to replace alot of handles.
Axes are a different animal, kind of done like samurai swords, harder edge, softer body to absorb shock.
Maybe I need to get a maul and a dremel.....