It is basically meaningless. And there isn't any glory involved.

Is this lightweight touring? I would imagine it was if one bagged everest in the loop:

https://www.youtube.com/watch?v=H9x1Jkl_680

This is certainly lightweight touring, but since he carries the same gear when he is walking and weeks from re-supply, and he is hauling it on a bike in this case, and is rarely a few hours away from groceries, what's the big deal.

Thru-Cycling the TransAmerica Trail, Ray Jardine

I do run into people who carry junk I never would, but for me the difference between loaded or credit card, or lightweight is all a mater of what I can get away with in a particular terrain, and what my body will take.