Reduce Reuse Recycle in that order. Big plastic really wants you to ignore the first two.
Basic physics says otherwise. A commercial bottles washer sterilizes and cleans with water at about 140°F for about 15 minutes. While glass melts (depending on the type) between 2500°F and 3000°F. Then after that the newly formed glass needs to be kept in a annealing oven as it cools slowly from 1000°F to 600°F. the amount of energy needed is several orders of magnitude higher. also this doesn't mention the work needed to grind the glass to be melted, or the cleaning of the glass that still needs to be done so as not to introduce impurities to the glass your making.
I really miss this marketing. It made so much more sense than what is happening today.