All the people working on Java at Sun/Oracle, on Go at Google and at C# at Microsoft (who, BTW, have written most of these languages' runtimes in C++) spent years and years designing elaborate and sophisticated algorithms that are worse than a crude implementation of a 50-year-old GC algorithm because we want to spend tens of millions of dollars and decades of work to give our users worse results? In your mind, what was it that possessed everyone designing high-performance language runtimes for non-memory-constrained environments over the past three decades, at unrelated projects that compete with one another, to all choose variants of a worse algorithm despite all of those variants being several orders of magnitude more costly to develop than what you believe is the better algorithm?
When someone comes up with a more performant GC algorithm than tracing -- we'll all switch to it. Who knows? It may be some sophisticated form of refocounting, but it ain't simple refcounting.