Perhaps, but I suspect that not many bike tourists are going very far "overboard with weight savings". Heck even when backpacking I have run into very few who were all that extreme in their weight trimming. Yes, you can read about folks going sub 5 pounds on backpackinglight.com, but I have run into very few on the trail who were much under 20 pounds of gear. When bike touring, despite having done quite a few long tours, I have yet to meet another rider carrying even as little as 20 pounds (base weight). At 20 pounds you aren't depriving yourself of much if anything comfort wise if your packing list is well thought out.

Not sure many have claimed speed as the reason for packing lighter. I don't think I ever have said it was my reason for packing light. I have found that riding with a lighter load is just much more pleasant especially when there is a lot of climbing. I think I do make more mileage in a day, but comfort and generally enjoying the time on the bike are my main motivation. Also I find the simplicity of a limited number of items to deal with to allow a simple life on the road. That simple life is one of the main reasons some of us tour. How far you take that is a personal choice.

I often advise packing lighter and do keep close track of how much I carry, but the bragging rights are not my reason for packing light. If it were I wouldn't be taking my fly rod or musical instrument (a 7 ounce mountain dulcimer of my own design and construction) on my upcoming tour. I take what I need and additional items that I think I will enjoy enough to be worth the weight. I do watch ounces when making those choices but the gear has to work and I do have to be comfortable. I also try to keep my gear choices cost effective and as a result I do not tend to go to high dollar stuff like Cuben fiber.

I don't consider what I do to be going overboard, but opinions on that will vary so feel free to disagree.