We can agree that there are corp execs that have perks tied to earnings increases, but let me know if you can name one exec who'd cash in if he boosted the EPS by buying back all but a couple shares while earnings fell by 90%.
In a pig's eye. Never happen.
Reverse split your stock 2 for 1 ... EPS doubles.
Finance professor pointed this out to me decades ago to show that EPS alone means nothing.