That is because so much of the data has to be touched and moved. Usually its a small percentage of the data on a constituent that is moved, but after a conversion we're talking a huge percentage of the files have to be moved. So the I/O load is large and automatically scans all files and moves them to balance.
The "volume rebalance file-move start" is fine, but is one file at a time, and you have to manually choose a destination for every file. We're talking 64M files in this case. No one is going to run and monitor ~50M file move commands, that's just a non-starter. Also, the document is "not recommended", not "unsupported". It can be run, but there are considerations to be thought about.
The flexgroup rebalance is not recommended after a flexvol to flexgroup conversion because its going to place high I/O on that individual first constituent. Usually you've moving files from many constituents to many others, so the load is across many volumes. In this case all the read I/O will be targetting a single volume.
That is 100% why I suggested to test it with a clone of the volume, do a full clone-split so its a completely different FlexVol being hit, even put it on a different controller. And then test the rebalance and only allow it to run outside of normal operating hours where any performance impact to users and production systems is minimal. A rebalance doesn't just start and then finish when it's complete. You can limit it's duration, and also by default only touches files with no blocks trapped in snapshots. You can use it, just be careful and understand the options and implications.
I'd 100% try it rather than hacking together millions of file-move start commands.
Or, copy the data again using XCP if you wish. I'd personally at least test the flexgroup conversion and rebalance to see. You might be able to get away with running it for several hours overnight for a few weeks and it achieves the same outcome, and is non-disruptive and transparent to end-users.