pushy: did you try a drooping hood? What I mean is a straight out hood only intercepts light that strays higher than the top edge of an imaginary straight ahead beam. Whereas the tape comes down about 40% from the top of the light's face and intercepts maybe 30% of the light. To work in a similar fashion as the tape, and so intercept as much light, the hood would need a downward tilt so the tip was closer to the center of the beam, but how close depends on the light distribution of the light and the length of the hood it won't be as far down as the tape. Did you try different hood angles?
Some ball park estimates are possible. If a hood was tipped down to block the same anmount of light as the tape, say 40% of the beam, since the distribution is bell shaped, that might be 30% of the power in that beam. Reclaiming 30% of a beam with a 10-15% loss on reflection would be 25% redirected. I assume The Fenix's had an XR-E Q5 bin and a 180 lumen max output. Cut off 40% of beam and lets say 30% or light means 136 lumens on the ground with tape and 44 lost. Reclaiming 85% of the 44 lumens would be 35 lumens and about a 25% increase in light to the ground, albeit, closer to the bike. Even that might not be a noticeable difference. That makes it clear why a straight ahead hood with reflecting surface would not be noticeable: the percentage redirected is much smaller than 25%. It is also why a straight ahead hood isn't overly effective on reducing glare to motorists.
That may change with your MagicShines or P7 flashlights. In the case of a light with 6-700 lumens, with a 30% loss to the tape the masked output is about 400-500 lumens, and the redirected light is about the 170 lumens (or a lost output equal to a Q5 at max). Depending on modes available, the light could be run at a lower current for longer runtime or the light could be discarded with so many lumens available. If you used a translucent angled hood, the wasted light would be a sidemarker, as the hood would light up. If too bright, you could black out the top.
Thoughts?