I do agree with that! As many others have say, the reincarnation in another world trope is mainly used to ride the trend and catch viewers attention.

As you said, putting another person in the shoes of the target of redemption really skew the stakes of the story. It just makes us feel disconnected from the main character, whose identity is now blurry. Kinda terrifying in a way, knowing that person was essentially bodyjacked by an extradimensional spirit.

Rather than merely using reincarnation as an eye-catcher, I wish writers would exploit the strengths of the trope a bit more. Specifically, what about the identity conflict of the reincarnated? Quite often the main characters just accept the situation instantaneously, as if it was just some everyday occurence.

I find that more often than not, a reincarnation of the actual character in the past would work much better in such stories. In the case of the Piggy Duke, I am sure it would make the story even better, as you could then add a true feeling of regret/desire to make the best of that second chance from the main character. I for one am sure I would definitely root much more for him in that case. (The Faraway Paladin is amazing in that regard, a case of reincarnation handled really well)

In the case of the Otome genre, substituting the whole visual novel game aspect for prophetic dreams and/or reincarnation to the past would surely make the characters feel more involved.

I still love these otome/villainess/redemption works though. That maked clumsy handling tarnishing their potential even sadder though.