As usual when this much-repeated quote comes up again, it doesn't address the entire picture.
The MIM material itself may cost more, but the savings in PEOPLE costs to make the guns with MIMs is why they're used.
No longer skilled craftsmen building fine guns, nowdays they have assemblers dropping in parts.
Believe me, S&W did not go to MIMs because they're better, they went with them because MIMs reduce overall manufacturing costs.
And, S&W isn't the only maker doing it for that reason.
Denis