Well, yes, carbide cutters are sharp, and I generally get at least one cut a day from either a carbide cutter or a burr or something. And, while carbide can cut steel far longer than a tool steel like M2, it will wear in time. Usually this is in form of chipping of the cutting edge, rather than blunting type of wear you see with a tool steel. Usually the chipping will take place because the rpm's are too slow, but it can also occur from thermal or mechanical shock. The former when cooling is uneven, the latter from intermittant contact of cutting edge with work. Both occur when milling metals, it's the nature of the operation, and it's much harder on the cutting tool than, say, lathe turning where the tool bit is in constant contact with the work. But basically all cutting tools and inserts are considered consumables in the machining trade. Many can be resharpened but I don't think anyone bothers to resharpen carbide inserts. Not worth the time.
Add to that the fact that no two machinists will ever agree 100% on how to run a cutter... luckily the specs are loose enough to allow for quite a variation in feeds, speeds, and depth of cut. There are also mfg recommendations for just how to handle various cutters for various materials... although in the shops I've worked people tend to do some trial and error and stick with what works.
If I can get the shop time, I'm planning on fabricating new lid hinges for the KA/Hobart KD-2P portable dishwasher I've been working on. Because it's stainless, I will likely use carbide cutters, although a tool steel will handle it also, just at lower speeds.