Physics is all about building useful models, where the meaning of "useful" depends very much on the context.
Is it fair to treat the air around us as lots of little hard spheres that bounce off each other? Yes, if the ideal gas model is a suitable description of what I'm trying to understand or explain.
But.. air "really" consists of molecules of oxygen and nitrogen and so on. So maybe it would be "fair" to say I've got O2 and N2 and we should think about the way they interact using some slightly more realistic description than "hard spheres that bounce off each other"
(Or does air consist of oxygen atoms, their associated electrons, nitrogen atoms, their associated electrons.... or maybe its a load of protons and neutrons and electrons. Or should I say quarks and gluons instead of protons and neutrons. Or maybe .. who knows?)
TL;DR : it is fair to describe this system as behaving like a single 10kg reduced mass if that's a useful description/characterisation of the behaviour the authors were studying. I am not an expert in optomechanical oscillators, but the authors are - and the idea of a reduced mass is a common one in physics because it often facilitates a simpler analysis.