There is a new Titanium process, not as cheap as I would like, but a lot better than we have now. https://www.nature.com/articles/d42473-021-00166-8
Supposedly Napoleon III had aluminum tableware for his most honored guests, and gold for everyone else.
Magnesium is also better at casting components with thinner walls and tighter tolerances than aluminum. However, even with the many advantages of magnesium, aluminum remains a less expensive alternative for die casting.
[0]: https://diecasting.com/blog/the-difference-between-aluminum-...
Secondly Aluminium is normally alloyed with other metals bringing the two even closer.
Finally it's a light, strong metal and used in many similar industrial products as Aluminium.
https://www.bloomberg.com/news/articles/2021-10-14/aluminum-...
Aluminum has been growing into that role of "steel alternative", but there's still room for other alternatives.