Fair questions.
fixed reserves are reserves used for holding.
Yes, but the intent is for serious emergency holding prior to landing, not routine traffic or weather holding
Consider the case where you arrive at your destination/alternate and there are no problems - you proceed and land. The remaining fuel will be the fixed reserve plus whatever else you might have left. Proceed to the hotel for the overnight and all is well.
Now, consider the quite different case where you arrive and, as you are manoeuvring to land, the previous landing aircraft has a major malfunction while decelerating and ends up at the intersection of the only two usable runways and blocks the whole airport.
Ergo, you go to the miss. Now, unfortunately, the remaining runway lengths are too short for your aircraft and you don't have fuel for an alternate, so you are stuck. What the fixed reserve gives you is some breathing space before everything goes temporarily quiet so that the folks on the ground have an opportunity to drag the disabled aircraft clear for you. That's the purpose of fixed reserve - gives you a bit of fat when things go very horribly wrong at the end of the flight. What happens if the good folks on the ground can't drag the other aircraft clear ? Then, you really do have a problem.
The following MMA F28 story gives you an idea of such a circumstance.
and
www.pprune.org/pacific-general-aviation-...years-ago-today.html
Does this sort of thing happen all the time ? No, but sufficiently often that most of us have had the occasional nail-biting end to an otherwise routine flight.
How about variable reserve ? That's to cover for the minor ups and downs in routine sector flying - wind a little stronger than expected, minor diversions around buildups, and so on. It is there to provide a reasonable chance that you won't end up going below the remaining fuel expected after the sector burn (plus variable) before you are in a position to land, using the last of the flight planned fuel to do so.
Weather and traffic holding ? Most folks probably wouldn't call this a reserve (although that really is what it is) rather an allowance to cover reasonably anticipated delays during the flight.
So, if you wish to call holding fuel a "fixed reserve", that's fine but it's NOT the fixed reserve we generally talk about. Two different animals altogether.