We literally had a discussion about how we have to explain what a toe strap is to riders nowadays.

Discussion was in reference to strapping a water bottle to the underside of your saddle on a long ride.

OP - everyone is about bags these days. To each their own.

Personally I prefer to shove it in a jersey pocket. If it doesn't pack well into the pocket then I get a smaller jacket or a different piece of clothing that allows me to dress more appropriately for the weather so I am not needing to shed layers that don't pack away easily.