I have long since bowed out of the lightness race, too. City riding, for example, doesn't really work. Sure, I can spend hundreds more on a bike that weighs two pounds less but then I need to get a nice big lock for it which will quickly eat up that savings.
Most of the dead weight on my bike is firmly attached to my own person. There's less of it all the time, but that's that. I gave up on the light saddle race a while back and got myself a Brooks B135, something that works for my own riding style and comfort and desire to not neuter myself through pressure on the softer bits.
I strip off things I no longer find useful, but not for weight reasons, but just as a way of decluttering my bike in general.
But I don't think I get as upset about the lightness race as some. I don't care. If a strong market develops for ultralight stuff then I'll just move in and get my standard weight components/bags/etc. on clearance price. I am just not seeing the down side here.