

Both have their place. I think both stainless and carbon steel are extremely cheap in the long run compared to nonstick for the simple fact these pans don’t wear out. Both types of pans will last for generations and can take a real beating, even from metal utensils, though carbon steel does not give a damn about scratches whereas stainless can lose some aesthetic appeal (barkeepers friend can help polish it up though)!
Besides the chemical reactivity differences, stainless pans (especially clad pans with aluminum or copper cores) tend to be much faster to react to temperature changes than carbon steel. At the same time can’t hold as much thermal energy due to lower density, so carbon steel is better for searing a large piece of food without cooling down too much (which can start boiling the food instead of searing).
I have used the water drop trick occasionally. Usually I cook an egg at higher temperature though. I wait until the oil smokes and fry it to get a golden brown crispy bottom. My favourite egg to throw on a noodle or rice bowl.