The authorized share count does not shrink with a reverse split but remains the same
True; however, a reverse split requires authorization via a shareholder vote (unless such authorization has already been granted), so it is just as cumbersome to implement as directly increasing the limit on the authorized number of shares, which also requires a shareholder vote.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”