Here is the part I refuse to fudge. When a lawn is truly compacted, pulling cores is the only remedy that does not kill the grass on the way through. Everything else that genuinely loosens soil, tilling or a full renovation, takes the turf with it. So no, aeration is not useless against compaction, and I part ways with the people who have swung that far the other direction.
Two things limit it: how many holes you make, and how long they stay open. The research does not count passes, it counts cores per square foot. Kansas State sets effective cultivation at 15 to 30 cores per square foot, and one trip across a lawn with a commercial spoon aerator produces about half of that at best. A measurable response means covering the same ground two or three times. The frequency studies agree: going from one aerification event a year to three dropped soil bulk density 5 to 9 percent and surface hardness 5 to 19 percent. Genuine, moderate, and earned through repetition. The core density numbers are laid out here.
Williamson County clay sets the second limit. Holes here close in weeks. The clay swells, settles, and reclaims the shape it wants.
The last piece rarely makes it into a spring sales pitch. Severe compaction is uncommon in a lawn, because root channels, soil biology, and the freeze and thaw swing of a Zone 6b to 7a winter all work against it around the clock. Where it does exist, a person put it there, the same feet or the same tires on the same strip of ground week after week. And on a lot with this much canopy, the thin turf everybody attributes to compaction is usually a light problem instead. Grass wants three hours of direct sun minimum, and as a rule of thumb you get about 30 percent of the way inside a tree's drip line before shade and root competition take the ground. More holes do not add daylight.