Cooking steak is about accurately applying heat. Getting a good quality internal cook without drying out or overcooking the outside is a challenge and nearly impossible with a single pan unless it's a long, low heat with a high heat sear at the end for the Maillard reaction. Because of the need to have such different heats, it takes a long time OR requires 2 pans.
Neither is your approach, which wouldmake a fine steak. But I want a great steak and one pan is not capable of a great steak.