Two things that should be obvious -
1. Biden should be thankful that companies are doing this - it makes the actual raw facts of inflation SEEM lessened. People don't complain as much when their loaf of bread only goes up a quarter, even when the loaves are a little shorter and smaller.
2. It also declares to the WORLD - inflation is here and it's a problem, and "shrinkflation" exists ONLY so companies can keep their products relevant and purchaseable to the masses. You don't need shrinkflation when inflation is under control.