You're starting to see the forest instead of the trees.
It also antagonizes estrogen:
https://www.ncbi.nlm.nih.gov/pubmed/15763078
One is wild theory (it will prevent decalcification and help hair loss) by broscientists, the other is reality (it will boost T and antagonize E and worsen hair loss).
Now, the problem becomes, when you have super low Vitamin D like me, dangerously low. Then you need to take Vitamin D, but if you take Vitamin D alone, you get bone pain because it has to be taken with Vitamin K together. Now what? Then you take Vitamin K2 MK7 (100 mcg). It has a longer half life than MK4, and in practice does not seem to worsen hair loss as much as MK4.