Acid etching was used on some items like armour, metal trays, etc, but not that common on arms. It was/is considered less prestigeous and desirable. As you properly stated - it is less expensivel, and would not be considered a mark of high quality. Nowadays, it is used as quick, sweat-shop mass production method as it allows multiple items to be produced at the same time.
I'd also like to comment on the placement of the script: I'd suggest placing it closer to the handle, toward the center of the blade.
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