Reach is a poor metric anyway because many things that start with a narrow target focus later expand to broader appeal. So things with narrow initial "Reach" often get tossed aside far too early.
And Effort should be ignored because - unless something is ridiculously HUGE in effort - whatever effort you might think up front is going to be grossly incorrect anyway. I've seen a lot of "this sounds big" or "this should be pretty easy" without a lot of detail on what "this" will actually be.
The whole process is flawed and full of bias. People think it has benefit and it might have some - I'm not saying it is zero - but there are MUCH better ways to discuss what is and isn't important to a company.