We can't make it by hand, or are you asking if it is too hard to make profit with all the labor? I do enjoy making my damascus. I admit that I got around to making a rolling mill for drawing out, but a 6# or 7.5# cross and an anvil horn did me well for a while, and still does for many things. I averaged 35 hours for 350 layers for 2 or 3 blades, now with my rolling mill I can do the same work in about 15 hours of work, I still have no power hammer and I mainly use a 4.5# cross. Ask Unkle Spike, FatPete, Trying-it, or any of the other members of IFI that have been in my shop while I was working.
But I do admit a power hammer of some type would be much nicer, but noise and vibration not allowable in my neighborhood.