Two out of three

I cannot remember the two out of three: you can only get two out of three-
inexpensive, ultralight and durable? is that it

back from a long hiatus

Warm, light, cheap...

It's still true, but the gap may have narrowed a bit in the past decade or two.

In my business, it's quick, cheap and good.

I would say your right on with the above three as well

jimmyb

When I built cars it was quick and cheap or slow and expensive. It's pretty much the same when coding apps.

I should mention that here "Light, warm, cheap. Pick two." generally refers to sleeping bags.

I might add something like "functional" as well. Which IMO would be a superset of "warm". I.e., a very functional sleeping bag will keep you warm enough at rated temperature. A very functional rain jacket won't have the zipper get wonky in short order or lose water resistance too quickly. A very functional stove will heat things for you with a minimum use of fuel and require little to know maintenance/cleaning/etc.

But certainly light, cheap, and durable are significant. In my own experience, "durable" is the least important of these. Few things really wear out for most backpackers with reasonable care, and those that do wear out are mostly "proportional" --- i.e., the wear isn't unexpected based on use.