I'm not sure what your argument is here, it seems like you don't think reverse splits have any implications or consequences for the company. You can't casually do a reverse split just to avoid being delisted. You're telling investors "we have no idea how to change direction so we're just gonna kick the can down the road for a bit". It's a really big deal, and if Blue Apron survives into 2020 it's very unlikely it will look anything like it does today.

Passing below the $1/share marker is a forcing function (i.e. it's not arbitrary at all) for the company to make significant adjustments, as opposed to the plethora of companies that trade in the $1-$10 range who can continue plodding along. BI's audience is one that's mostly aware of this fact, so that's why the article is about that "arbitrary" price marker - it's a sign of major changes incoming rapidly.

So, I guess I'm not really sure what your point is. "Just do a reverse split" is like saying "just declare bankruptcy" or "just charge more money" in that it glosses over the consequences of those actions greatly.