But that is not what these two articles written by turntable manufacturers are saying. Of course you have a right to disagree with them

Like I said there is a lot of conflicting information on this. I could link a dozen other forum discussions where people say what I posted is true, and other places people disagree.
https://www.vinylengine.com/turntable_forum/viewtopic.php?t=102412
"And the advantage of the heavier counterweight would be an reduction in effective mass."
"In the manual for the SME Series III, which has a bunch of lead plates for the counterweight, SME suggests more plates, which will balance the arm closer to the pivot, for lowest effective mass, and fewer plates, which will need to be farther from the pivot, for greater effective mass."
This PDF is interesting and they agree (as do you and I) that lowering the mass of the head shell has more impact, but it also shows through math that doubling the mass of the counterweight and moving it closer to the pivot will reduce the effective mass, not increase it.
http://www.cartchunk.org/audiotopics/ToneArmMechanics.pdf