In my experience (and maybe you'll correlate), all materials involve compromise; there doesn't tend to be a case where a material is outstandingly better in all categories.

Comparing titanium vs. the best steels, it's half the weight but also half the modulus of elasticity and half the tensile yield strength. I wouldn't expect there to be much weight advantage when comparing two tubes with roughly equal properties but maybe this is a case of "every little bit helps"?

If I remember rightly, titanium is harder to process also.