I go back to the '70s sailing the H16. That boat came with reefing points for the main but it was thought that doing so would ruin the sail. I can't prove it one way or the other. At the same time, it was quickly discovered that in survival mode, you can just come head to wind and all is well. On the other hand, driving these boats hard when it's blowing like stink is a rush! And if you do a cartwheel across the water it's no big deal 'cause they're easy to right. Over time skills increased and people sailed in unbelievable conditions. So, it just became part of the culture.

I refered to it as machismo which,imo, is not a pejoritive.

I guess the quick answer is you don't reduce sail because you don't have to if you're good enough. If you're not, you get wet, right your boat and life continues. It's just not quite as easy as it used to be.