To understand why, we need to talk about 2 separate things:
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1. Specialization is important for performance and when speaking of .NET, specialization for value types is subsumed in type erasure, but that's not necessarily the case. You can have compiler-driven or even runtime-driven specialization without reification.
In Scala for example we've had the "@specialize" annotation for a long time, with the compiler being able to specialize generic code just fine. It's not perfect, a better implementation eventually happened in Miniboxing [1] but it withered away due to lack of interest and the ongoing work happening in Dotty / Scala 3 and its newer TASTY distribution format, which should make specialization easier to accomplish.
Also there is on-going work to bring value types to the JVM and it's happening: http://mail.openjdk.java.net/pipermail/valhalla-spec-experts...
That said having specialization is pretty cool for fine control of the memory layout and Java developers have to resort to a lot of unsafe hacks for achieving the same thing. But if that cost was paid such that languages like Scala or Haskell could happen on top of the JVM, until they figure out how to do it such that everybody benefits, I think it was a cost worth paying.
Also consider that the lack of specialization forced the JVM 's engineers to get creative in other areas. For example the JVM has always been great at inlining code at runtime, even for megamorphic call sites. And the new GraalVM has super impressive abilities to eliminate boxing at runtime, which works for dynamic languages too: https://www.graalvm.org/
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2. Reification is in fact about adding info about type parameters at runtime. This aids in using reflection to make a difference between List<int> and List<string>, but people miss the forest from the trees.
As a matter of fact such reflection is only needed because languages like Java or C# have very weak static type systems, compared with other languages in the ML family. With an expressive type system, you never need reflection capabilities.
In Haskell for example the question of whether something is a List<string> or List<int> never, ever happens. In Scala you sometimes need it, but much rarely and you can get it via a compiler-generated `ClassTag`, which is actually a much better approach, because it makes it clear in the signature, this being compile-time reflection. People also like being able to do "new T", however that need completely goes away via proper support for type classes, which both Haskell and Scala have, this being another special purpose band-aid.
And reification is actually a bad feature to have in the runtime, because it makes it hard for languages to support higher-kinded types, or to build dynamic languages.
F# does not do higher-kinded types and is less expressive for that reason than OCaml, Scala or Haskell and the primary reason for why it doesn't do higher-kinded types is because it would have to do type erasure by itself, thus forgoing the performance benefits and the interoperability it has with C#.
Ironically it is support for higher-kinded types in a language that increases its expressive capabilities to the point that you no longer need runtime reflection. In other words ... you're blaming Java for not having a band-aid that happened in C# due to their static type system being basically unsound and thus needing runtime guards and reflection. You quickly get over this once you'll start using a more expressive language ;-)