I understand that the lack of coloring was a metallurgically-driven decision, but nonetheless.... bluing is just a cheaper-looking finish - and I bet it's a cheap finish to apply as well. It simply is not 'rich'.
You can bet one of the arguments used internally at Winchester in favor of using the newest steels was 'no need for that pesky case coloring/hardening process'.
I'm not suggesting Wnchester should have case colored the M21, but some other finish would have been more fitting their top-of-the-line gun.