I don't think so. I wander through an REI and still see all the same heavy stuff, lots of useless gear, etc. Things have gotten a tiny bit lighter, but nowhere near as light as what I carry.
To me, "ultralight" means more of a Ray Jardine vibe. Trim off tags, ditch pointless straps, trail runners instead of boots, quilts, tarps, no zippers, and the like, with much more DIY stuff.