Cleanup reduceDefaultPropsInText (#55292)

Summary:
Pull Request resolved: #55292

Pull Request resolved: #55291

This was rolled out internally after experiment review/holdout. This only affects the internal JS to native interface.

Changelog: [Internal]

Reviewed By: rubennorte

Differential Revision: D91469555

fbshipit-source-id: af3443f290e67b16c8741f4757324b74aea02461

Author: javache