I have thought about soaking them in some 2-part penetrating epoxy the next time I need to make a batch to weatherize some outdoor plywood. That should penetrate well, but it would cost a fortune to do that just for modeling trees. So, it would only be an experiment of something I might do for a few foreground trees or maybe a large bunch of trees all at once. The problem is that the 2-part stuff hardens and cannot be saved for later use, once mixed. So, there would be extreme waste for a dipping process.
But I doubt that spray-on materials are going to penetrate well enough to really increase the strength.
Some sort of 1-part soaking solution seems like a better idea from the cost perspective, because a vat of it could be saved and used again for dipping more trees whenever needed.
I am liking the idea of varnish, because I think it would penetrate well (if you haven't already used glycerin), and it would not be extremely brittle. Varnish does come in satin, but I don't know about matt versions. But, with one coat, drained well after dipping, I think shine won't be a problem after spraying modeling colors.