If the relective surface is facing inward and touching you, then by conduction, it will be the same temperature as you. So radiative heat transfer is not a factor.
If it’s not touching you, there is an air space between, then there will be an advantage to reducing radiative heat transfer between you and the space blanket. The more air space, the better, up to about an inch
I agree about all this being non intuitive. It’s very confusing