The documentation is wrong. As others have pointed out: halt, reboot and poweroff are all symlinked to systemctl. That program first looks at the name it was invoked from and sets the action it is going to take (one of halt, reboot or poweroff). It then parses its arguments one by one to see if any of them override the default. However, looking at the source code, a poweroff option can not override anything when the current action is reboot.
reboot --halt --poweroff will power off the machine though, because when systemctl parses the final argument the current action is set to halt (from the previous argument).