I owned the Camuk Extremes for several years. When they wore through the ankle from rubbing on my bike crank, I did not replace them with Steger Mukluks. I found they were not the best option for most winter use.
Here are my thoughts. They are not to say that the Steger Mukluks are bad per se, but definitely have a think about how and where you will use your footwear, and whether the Mukluks are your best option.
The number one drawback was the soft sole, lack of a sturdy toe and lack of a grippy tread design.
This makes walking on many (winter) surfaces less comfortable and secure. I am not advocating for fully rigid mountaineering boot soles, but a bit of stiffness at the toe, to dig in as you push of at the end of your stride, and especially when climbing firm snow slopes, is really beneficial.
The tread design is not very grippy. Look at any other mud, dirt and snow footwear and you get independent ‘lugs’ that can truly penetrate the soft surface for grip, as well a clean pretty well. Instead the mukluk sole has continuous ridges.
The super soft sole also precludes the use of screw in carbide studs, which I have in my other footwear, for walking on ice.
The lack of structure in the Mukluk, combined with the lack of lacing across the foot, means that on more challenging terrain, it really hampers your control and ability to move well.
The soft foot means snowshoes, or skis with universal bindings, dig into the foot, creating pressure points (and making it harder to take the snowshoes on and off).
The other part is moisture management.
Two things here. The first is internal moisture from your foot. The idea is that unlike other footwear, they are breathable. I’d say, when you look at test results for jackets and such as done by Stephen Seeber and others, we see that any kind of thick material has poor breathability. And most insulation and shells tested for jackets are way more breathable than felt and leather. This is made worse by the fact that you would be using these in extreme cold, where the dew point would almost certainly be inside the leather shell.
I don’t doubt that on day hikes they will move more moisture away from your foot than most other systems, but overnight I am sure there is a lot trapped in the wool felt liner.
If you are hot camping, or on day trips, this might still work out well, as you then dry the liner out at night.
For me, I found that my feet got cold at camp in the evening, so I switched to vapor barrier socks, and or vapor barrier mukluk liners. Obviously negating the benefit of a breathable shell.
The other issue is water from the outside. Yes, if it is very cold, you won’t have rain, but you can’t always predict the weather that well for a trip.
And, one of my favorite places for winter travel is the rivers and creeks of the Northshore of Lake Superior. Even in the coldest times, there is still a chance of punching through some thin ice (it forms in layers) and getting a wet foot.
So for that (admittedly more limited use case, although I believe Alaskans travel on rivers a lot, and I have seen open water or overflow there too) Mukluks, being both not waterproof, and extremely absorbing, are a very poor choice.
Curently I am using a pair of unlined Neos boots, with closed cell foam (ski boot style) liners. This provided me a waterproof boot up to the top, no gaiters needed.
Dunking a foot deeper than that is unpleasant, but if I quickly pour the water out and put it back on, it is quite survivable, since neither shell nor liner hold any water.
For the same reason, my feet are warm even when I stop moving in the evening (as long as I wear thin socks, or vapor barrier socks underneath warmer socks).
The sole is strong enough to take gripstuds for ice traction, and has better grip than the Mukluks, and is more comfortable to walk in.
However, they are not ideal:
Like the Mukluks they lack lacing over the foot, and are soft over the instep. Also even more than the mukluks, they have a overly wide mid and rear sole (wide toe box is good for warmth, and high instep for the same, but a more normal sole is better for walking, and fatbiking)
Also, the material and construction is pretty low end (but so is the price, and so far they have held up).
Ideally I would want a fairly lightweight tall, waterproof outer boot, with laces and a real sole, to use with the closed cell foam boot liners