The real power isn’t reduced. This is the part that does actual work at the load.
The apparent power includes the real power, and unused reactive power. Even though the reactive power does no useful work, it nevertheless taxes the grid with its flowing in and out of the reactive loads (like induction motors.)
Utilities have to provision for apparent power and thus charge a premium for customers with low power factors.
Big utility customers can improve their power factor by adding compensating reactance locally to cancel out the reactive elements in their local distribution.
This has filtered down even to smaller loads, like computers. For several years now, any power supply above 60W (later revised upward to 100W) requires power factor correction in its input. More about that here: https://www.energystar.gov/ia/partners/product_specs/program_reqs/eps_prog_req.pdf