Titanium and Carbon-Fiber inlay handle, very nice; S35VN Stainless Steel, very nice again; Stonewash finish, I'd prefer satin, and the stone wash looked better after polishing. And, the price for all of this, with the coupon from Amazon, is very good; or the one from Katsu direct, even better.
But, the reports of poor factory sharpening are true, and that's not good, but the price makes keeping it to sharpen yourself, if able, worthwhile. The hollow-ground, flat portion of the blade is sharp, but not nearly as sharp as you would expect from the land of the Katana, and not as sharp as far-less expensive blades, as the Ontario Rat models (-$40) or Cold Steel's Code 4 (-$85), either of which would be much better than this Katsu as a utilitarian cutting tool. The edges are uneven, side to side on both the hollow-ground, inner edge and the flat-ground, front, curved section, which is just plain dull. I am able to run my finger along the entire curved section with the force I'd use to apply a Band-Aid and not break the skin! And yes, the geometry of this blade requires at least two sharpening pivot points.
The second problem is the frame lock, which is external and a contiguous part of the frame, and which if held with any pressure AT ALL (which, with fingers pressing the handle where the frame lock is placed, is the natural way to hold the knife for best leverage while trying to deploy the blade) will make actuating the top-flipper tab to deploy it impossible. The diminutive size of the top tab becomes a contributing problem because of the additional force that is necessary if any pressure is being put on the frame-lock extension while trying to press the tab. The knife must be held keeping the fingers only on the carbon-fiber inlays and clip on the lock side, and even then, a good tug on the top tab. I have found that grasping firmly on the small section of carbon-fiber inlay, below the clip, with the middle and forth fingers gives the best hold for deployment with the index finger on the top tab, and deployment can be done turning your hand to any angle.
There is a detent at about 30 degrees on retraction, which will stop the blade from falling further if not held too far to the vertical to impart greater momentum to the blade when releasing the lock, and the action of the blade to fall (close) is good, and the top tab guards your finger from the blade if you do hold the knife so as to allow the blade to freely fall the entire distance past the detent, which is good. The tab also forms a usable forward choil, which is also good, except that there's no use for it until you sharpen the front-edge section, which as it is, can only serve as a butter knife.
All in all, if you have some skill with sharpening, the price makes keeping this Titanium/Carbon Fiber S35VN knife worthwhile, as you'll end up with a knife that performs like those that cost twice as much, or more. But if sharpening isn't for you, or if utility is more important than looks and/or materials, don't buy this knife (or return it) and get yourself one of the knives mentioned above, or one comparable.