They needed strength in the hood for the 392's water system. I suspect the 392 has been in the works much longer than most think. An aluminum hood would crack.
Also, Mojave and 392 come with steel knuckles. Speed and/or power needs strength.
There are two sides to this. Those who see what's in front of them(most Jeepers) and those who are running off of theory(you).
Nobody will deny EV's once EV's get the same logistics as ICE vehicles. In the meantime, logic and experience will reign supreme.
Depends on application. Things like knuckles and steering should be steel. Like how you wouldn't want an aluminum sledge hammer but you would want an aluminum beer can.