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Taking permanent ability score loss to choose is not appealing at all when the spell is already pretty punishing as is. Taking extra negative levels might be reasonable, but permanently losing your ability scores is ridiculously harsh.
Race, age and gender are just a state of YOUR BODY, they have very little to do with the fact who you are, unless you choose to be obsessed with them (because of an irrational fear of being the opposite gender, different age or different race).
That's not entirely true. If you're a native outsider, your race is a part of your soul. It's one criticism of the reincarnate spell because, technically, a native outsider should always reincarnate as a native outsider related to the same plane. An archon aasimar should always reincarnate as an archon aasimar or an angel aasimar because their soul draws its heritage from Heaven. Getting a new body doesn't change that.
Also, reincarnating as an old man makes even less sense than reincarnating as a young adult. We're not time lords.