One reason is that GC is already universally used to mean only tracing garbage collection, and trying to defend its wider meaning is a pointless uphill battle.
Another is that is suits the job much better, because not every AMM technique works by producing garbage then collecting it, you know.
And the confusing thing is that garbage collection (GC) doesn’t collect garbage, while reference counting (RC) does.
GC doesn’t look at every object to decide whether it’s garbage (how would it determine nothing points at it?); it collects the live objects, then discards all the non-live objects as garbage.
RC determines an object has become garbage when its reference count goes to zero, and then collects it.
That difference also is one way GC can be better than RC: if there are L live objects and G garbage objects, GC has to visit L objects, and RC G. Even if GC spends more time per object visited than RC, it still can come out faster if L ≪ G.
That also means that GC gets faster if you give it more memory so that it runs with a smaller L/G ratio (the large difference in speed in modern memory cache hierarchies makes that not quite true, but I think it still holds, ballpark)