There is another representation of this formula, which connects it with an -as well unsolved- "detail in the Waring-problem" (see mathworld.com) namely the distance of $(3/2)^N$ to the next integers.
By rewriting (I use different variables names from your formula to match the notation in an essay of mine:N for b - because "N" indicates the "N"umber of odd steps, "A" for "a" because I use capital letters for exponents in this environment, see section 4.2 in the essay)
$$ k(2^A2^N-3^N)=2^A-1 \\
2^A(2^N k-1)=3^N k-1 \\ $$ $$
2^A={3^N k-1 \over 2^N k-1} \tag 1$$
Introducing a functional notation
$$ f(N,k) = {3^N k-1 \over 2^N k-1} \tag 2
$$ $\qquad \qquad $ relates to a well-known conjecture, but which is again unproven until today.
$\qquad \qquad $ We can reformulate this as
$$ f(N,k) = (3/2)^N + (3/4)^N/k - \varepsilon_{N,k} \tag 3 $$
$\qquad \qquad $ where $\varepsilon_{N,k} < 1/2^N$ for $N,k \gt 1$.
Looking at the first part only and omitting the small subtractive summand, we find an expression, which occurs in the "detail"
$$ f^*(N,k) = (3/2)^N + (3/4)^N \lt \lceil (3/2)^N \rceil \qquad \text {for } N \gt 7
\tag 4 $$
and that means, that in $(1)$ not only we cannot have a perfect power of $2$ on the lhs, but even not an integer at all, because due to conjecture $(4)$ the next integer above $(3/2)^N$ is larger than $f^*(N,k)$ and thus than $f(N,k)$ as well.
So if the "detail in the Waring-problem" could be solved/proved independently, then again we had the argument against the "1-cycle".
I didn't investigate the reverse idea: but I think it should be an interesting discussion, whether the Steiner/Simons/deWeger-disproof of the "1-cycle" can be expanded into a formal solution of the "detail in the Waring-problem". Perhaps this is doable with more experience/math-training than I have.
Appendix: see the picture of $f^*(N,1)$ . (The picture is rescaled for the $\tanh^{-1}()$ of the interval $0 .. 1$ of the resp. fractional parts)
Indeed, for $N \gt 7$ the red points for $f^*(N,1)$ (denoted as $g(N)$ in the picture) lay in the very near of the grey/blue points, and for $N \gt 50$ the different coordinate is practically indiscernable, thus empirically confirming the conjecture $(4)$ from the "detail" up to $N=20000$.
