That's my point, Demonite is far harder to get, and even though the weapons aren't as good, I assume the armor is more than just higher defense. Also curious about the Demonite Pick, because I've seen it being used but Pbat could never make one even with 30 bars or so of Demonite.
If Demonite items really are on a tier totally below Meteorite...that just seems off. There's no naturally occurring source of it that we've seen. You can get the dynamite or the powder to get meteorite the instant you kill the Eye of Cthulhu or the Demolitionist arrives. It just feels like something has been missed in the LP, or the balance is off there, to me. People will skip past all sorts of tiers in Terraria, but Pbat made one weapon from Demonite and that was it (two actually but I don't think he's even fired the bow.) Put another way, consider that obsidian is necessary to get around in Hell and even mine Meteorite effectively. That's one stone type, producing one item that's a lynch pin. And all Demonite produces is a bunch of armor and weapons you can easily skip past? It just doesn't click.
Maybe Pbat totally jumped the shark and they actually intended people to fight the Eater of Worlds a bunch before trying to take out the Shadow Pearls. Except I've yet to see how you're supposed to summon them. Either way, for all the BS you have to do for Demonite (Special forges, going into deep ass chasms, special treatment for the stone), it seems like it should do more or pack a bigger punch. Or maybe it's the ultimate Ninja gag...the stuff that makes you look like a Ninja is ridiculously hard to get, and isn't honestly better than stuff that's easier to acquire.
And I'm pretty sure there's a Hell ore of some sort. There are flaming picks seen in the trailer, that don't seem to come from Meterorite. (It makes the Hamaxe.)
I really hope Red finds a way to display recipes you can't make sensibly. All of it is going up on wikis anyways, he might as well not leave players fumbling around in game trying to make stuff. With 200 items to make, that's way more permutations and inventory swapping than I want to fuck around with. I'd settle for a vendor that I talk to, to see recipes.
And he can hide recipes for really powerful or rare items....but if you're missing wood out of your inventory and therefore can't make a pickaxe, even if you've got the metal...how the heck are you supposed to know that? I hate missing things in games simply because they don't tell you about them and you don't figure it out until said thing is totally obsolete. I hope that address that before release.