Anyone else think that Ninantic "Overreduced" Revives?

No. But for my game, they aren't critical.

When I put a mon in a gym, I don't use trash mon - I use evolved trash mon. Raticate, Xatu, Fearow, Ariados, Ledian, Azumarill, Furret, and so forth. Then, when they come back to me, they go straight to the professor. So I don't need to revive 3-6 gym holders every day. Still throwing revives away, just not as quickly as before.

Now, if Niantic would allow us to do something with the few hundred max potions cluttering my bag. I'd happily sell them back at 1/4 value (which would be 50 coins for 10 potions returned).

No, and now they can reduce potions from raids too cause id like something besides potions and revives from every damn raid.

I'm drowning in max revives at the moment.

Ultimately it depends on what you want to do.
If your a raider than revives slightly more important but I wouldn't go so far as to hoard revives dont forget with RNG your bound to get some after you win raids anyway.

I usually put chanseys and other reusable defenders and still discard revives. Only potions forces me to put disposable defenders in gyms

Yesterday, I took 7 cracks at trying to solo Alakazam. This morning was another multi-attempt solo followed by a Legendary raid double. My once bountiful bag of revives and potions is looking pretty bleak right now which means it’ll be a while before I get to try Alakazam again.