My guess that this behavior was changed 2+ years ago to make SwiftUI work as it uses View's name to identify AttributeGraph nodes. Previously disabling reflection metadata caused immediate crash for apps using SwiftUI, seems like they 'fixed' it this way.
in particular, if you add the flags -Xfrontend -conditional-runtime-records -lto=llvm-thin to the compiler invocation in the example, i think you'll find that more metadata is removed. i will, however, reiterate these caveats from that discussion: