I love how these things are all "you simply have to do..." Like one goes out and collects the atmosphere with a butterfly net and splits it with a butcher's knife. Or like just goes and "gets a smelter and a foundry going".
Do these people have any clue how complex these sorts of industrial systems are? They have hundreds of thousands of components, all of which can break, and some of which are massive. The more you scale it down, the less efficient it becomes. And systems engineered on Earth don't just magically work on Mars too. You can't just dump heat into a river or the air, your gravity is significantly lower, and you've got electrostatic dust that clings to everything. And everyone output feedstock you want requires half a dozen or so input feedstocks, not counting all of the parts that can break - and they will break. And not all of these feedstocks can be gotten from the same location.
Let's just pick one little part of what you just wrote. "pass the CO over iron oxide dust" (we'll ignore everything leading up to getting and transporting that CO2). First off, if you literally do just that, you'll get nothing. The reaction needs to be done *hot*. And it can't be just "passing it over", it has to be thoroughly mixed. But then you get ready-to-use steel right? Wrong. Because you don't have "iron oxide dust". First off, you don't have any fine "dust" in mineable quanties, the blowing surface dust is spread over overthing, not accumulated in big pits ready for you to dig up.You at best have sand; at worst, solid rock. Most sands are not going to made of a majority iron oxide (if they have any sizeable quantities at all). Iron ore deposits are places where iron has been *concentrated* by geological processes, it doesn't make up the majority of basalts. And even cementations of iron-rich clay concentrates aren't 100% iron oxide. Whatever you mine (which means mining equipment, which means big, expensive, complex devices), you need to break it up, which means rock crushers, (which mean big, expensive, high wear devices), transport (haulers - more expensive devices), etc. At the mill it's going to go through a range of hoppers, conveyors, etc, all of which will wear and break. In addition to your ore and CO, you need a wide range of fluxing agents to separate out the stuff you don't want and to produce a usable product. The most critical of your fluxing agents is limestone, which on Earth mainly comes from deposits of marine microorganisms. Fat lot of luck finding that on Mars. So you need to mine less common calcium carbonate sources like travertine. More mining equipment. Hey, do you expect to find your travertine ten feet from your iron ore? Yeah, best of luck finding that, you've got to drive! Just hope you don't have to drive hundreds of kilometers, eh? Of course that's just one of a variety of fluxing agents you'll be wanting to add, there are many, for varying purposes. Anyway, once you've got your big molten mess (consuming ridiculous amounts of energy, orders of magnitude more than we've ever fielded offworld), you need to do something with it as you stream it out. Okay, then of course you have your slag skimmers. Hey, how long do you think that parts dripped in a stream of molten iron last? And you need to do something with your slag, so get your equipment to haul it away (after you've cooled it) ready as well. Speaking of cooling, normally we'd use water for that and just let it boil off for cooling, but on Mars it's a precious commodity, so go add more complexity for recapture and cooling! So now we've got a stream of mostly pure steel, but we're not even CLOSE to having usable parts.... (I'll stop here, as I don't want to spend all day on this).
I get it, you have a basic understanding of the chemical formulas for making a couple products. Well, here in the real world, a simple chemical formula is not enough. Real world processes are far more expensive and complex. They don't just pop together by waving a magic wand where you say, "you just do X and Y, and poof you have a habitat!"
In the real world, we're not even 1% of the way to the point where we could set up a working steel mill on Mars. Not. Even. Close.
Humans living on Mars can't just "bootstrap" themselves like some sort of colonist stepping off of the Mayflower. They're entirely dependent on modern technology just to live. Well, unfortunately, modern technology is produced by extremely complicated global supply/dependency chains. You can't just chisel a CO2 scrubber out of a chunk of granite.