Audited against policy-conditional ground truth from executed replay in a single-agent tool environment (ALFWorld), none of the step-level credit signals we audit -- LLM-judge scores, outcome-conditioned logprob ratios, or the policy's own confidence -- shows reliable incremental fidelity beyond its own marginal-matched shuffled control. Correcting for replay-target reliability leaves implicit fidelity bounded near zero and judge fidelity inconclusive at the achieved target reliability. Existing evaluations grade these signals against annotated step *correctness*; we audit them against step *contribution* -- what re-sampling the policy's own alternatives at each decision point and rolling forward changes about the outcome -- and they come apart. The ground truth is structured: 30.5% of decision points where it is defined exhibit a nonzero replay contrast at the achieved sampling resolution, and measurability is model-dependent -- the fraction of points with no policy-supported counterfactual differs twofold (13.1% vs. 26.8%) between two similar-scale policies. The failure mode is identifiable: implicit credit echoes the policy's fluency (median rank correlation +0.75, replicating at +0.70 in a second family under a corrected instrument), while outcome conditioning adds no causal information (partial correlation -0.004, Qwen). A confidence-only router recovers pivotal steps at chance level, but cuts judge cost by 13.1% per turn (14.0% per trajectory). In a seven-arm pre-registered training experiment, no arm reliably outperforms the untrained policy, and the checkpoints' apparent instrument signature is statistically consistent with mediation by effective training dose in this design -- sparser credit retains fewer examples, an order-of-magnitude spread in optimizer steps -- not credit content. Comparisons of credit rules must match effective sample size, or they measure dose, not credit.