The first runstats is not necessary. Also, the runstats is completely unrelated to the reorg here. I did the runstats to update the statistics - not to reorganize the table data (which I didn't care about). However, I fiddled around with it a bit more and that messed up my statistics.
The FPAGES=374 means that there are 374 pages allocated for the table. And NPAGES=0 means that 0 pages allocated for the table contain data. DB2 did not allocate pages just for the fun of it. I had 100,000 INSERT statements. But I run a DELETE to remove all 100000 rows, so no data is in the table any longer.
What you have to know is that DB2 allocates pages for a table when it is needed, i.e. when all existing pages don't have enough room to accommodate a new or changed row. However, when a page becomes empty, it is not deallocated/deassociated from the table. That would be just an enourmous waste of resources in most scenarios. Therefore, you have to run REORG to reclaim this space.