So you could forego: axe, saw, Bic lighter, knife, snow shovel, avalanche beacon, and bear spray.
Also, I think, headlamp, hardwarmer, signal mirror, stove, and fuel. And very handy if you're surprised by Imperial Stormtroopers asking for your wilderness permit.
It would also be excellent for MYOG - you could cut aluminum tubing, titanium sheet metal and it would heat seal the edges of nylon fabric very nicely.
But you should go ultralight: