You're absolutely right: it's all about judgment calls. But that's the great thing - there's no inherently "right" answer, and we all get to make our own judgements, weighing in whatever factors we want.

In my own case, I'm currently carrying about a 15-pound base load (before food, water, and fuel.) A few years back, I decided to see how light I could go, and got some stuff from Gossamer Gear, Six Moon Designs, Tarptent, and some other cottage makers. I got to the magic 10 pound load. However, my own personal findings were that I had cut "muscle" for the last 5 pounds. The stuff was not as convenient or comfortable in my hands, and I eventually backed away from it, reverting to my 15 pound laod.

Was there anything "bad" about the 10-pound components? No, not a thing. In fact, others on these forums carry loads that light, with gear from those manufacturers, and are just as pleased as I am with my choices; they find the level of comfort and convenience they like.

And that's what everyone does. My 15-pound pack may not be as light as theirs, but it's still far lighter than the 30 pounds I used to carry.

Maybe that's the other part of the light philosophy: measure your own progress against where YOU were, and not where others are now.