Carbide was developed for industrial use where time is money, so higher speeds and deeper cuts save time.
The theory behind being able to cut harder materials, is that at the point of contact between tool and work, the friction produces high temperatures.which softern the material, locally.
To get the best out of carbode cutting tools, the machine needs to be able to withstand high speeds and deep cuts. (Older or less rigid machines with plain bearings are not suited for this sort of maximum capability work. )
Carbide will take small cuts, and at low speeds, and produce good surface finish, but this is not why they were developed!
Moulded carbide tips have rounded edges. Ground imserts have sharper edges, but are even less tolerant of being banged, and chip, more esily that the moulded ones.
HSS is more tolerant of interrupted cuts or hamfistedness!.
For turning hard materials, they are invaluable. Turning some case hardened spacers, the swarf came off like red hot wire!
My lathe has roller bearings in the Headstock, but t a lot of my turning work mis done using HSS (A Tangential Turning Tool) but for roughing and for boring, I use carbide tips (CCMT0604 )
HSS has the advantage that it can be reground at 8 pm on a Saturday night when carbide insert stockists are safely at home.
A length of HSS will cost about the same as one carbide tip, but can be reground many times, withoutb the need for a special grinding wheel.
Literally, you pay your money and make your choice, of the tool for the job in hand.
As hobbyists, we are not on piecework, nor trying to make 5,000 identical items.
Howard.