No, it's likely a bag, a hammock, a small gas bottle with burner and pot, and perhaps sleeping bag, tarp and some gadgets and eating utensils, plus an extra set of clothes. I.e. the core equipment you're going to reuse indefinitely. Perhaps they weigh in things like reusable bottles and the like too.

Personally I'm not into paying a premium for "ultralight" and similar so I might have misinterpreted something when glancing at people that seem to be. For me part of the hiking experience is getting used to carrying weight and living off equipment that would work in a crisis or adjacent to armed conflict, i.e. my basic gear clocks in at about twenty kilos or so, though that's enough to feed and 'house' about four people. Two field kitchens, teepee-style storage tent as well as a large pyramidal tent for sleeping, field spade, handheld radio units for the family/team, fishing equipment, &c. Usually I carry ~10 liters of water, a liter of ethanol, food, spare clothes and whatnot on top of it.

I find that lowering weight into the single digits doesn't give me that much extra range consistently over several days so I'd rather set up camp close to the area where I'd need it and leave some weight behind while I take on the more demanding trail or climb. At the end of the day it's going to be an endurance activity rather than a sprint anyway, at least for a non-athletic button pusher in his forties, like me.

Clearly people that mostly roam areas close to cities or that have joint issues or similar would have reason to make other decisions.