You are correct, PG will not reduce flavor in a mix.
Both PG and VG carry flavor. Many retail juice manufacturers made 100% VG juices that many people enjoyed.
10% flavoring is still 10% - that 10% will still be 10% in a 100% VG mix.
Due to the inherent VG thickness "it can mute flavor intensity" giving one the impression of less flavor with their DIY mixes. The solution is to better shake/mix and longer steep times for the flavors with the higher VG. (also, see DW below)
From what I have seen on ECF and other vape sites - PG carries flavor better - which one could perhaps interpret as "better", however, that "better" is at best subjective. Because PG is much thinner in viscosity (versus VG) flavorings in a mix do reach a more miscible, or homogeneous solution, faster than say 100% VG mixes do.
It is my understanding that higher VG mixes generally require longer steep times in order to reach a homogeneous state. Makes sense, thicker base.
If someone were to use, or prefers, high VG in DIY, one solution is to add distilled water (DW) to a mix.
IIRC
@Letitia uses DW in some of her mixes. She has generally advised people to add a drop or two of DW to a mix, test vape and then go from there. Some RBA's handle a higher VG base better than others (wicking). Adding DW helps the juice to wick better (thins out the VG). I am not sure how much DW to add to a 100% VG mix. My common sense guess - start low - like 2% to perhaps 4% and go from there. Hopefully Letitia can add her expertise, cuz I am not at all sure I got that right. LOL
I vape 50/50, 60VG/40PG and 70VG/30PG and never have an issue with flavors being muted. Steeping is the key no matter what ratio one prefers. Some mixes require longer steep times versus others. Heck, even flavorless does better with some steeping (true!).