Reduced weight doesn't always make things weaker. Yeah, the general rule of thumb when making something strong is to add more beef, but sometimes that beef just adds stress to other areas. A light, short skirt piston puts way less stress on a rod/pin , which means you can make the rod/pin lighter...which puts less stress on the crank, so you can make that lighter, etc, etc. Smaller, lighter valvetrain components allows you to run smaller lighter cam drive components. Lighter valves need less spring pressure, which can allow slim rockers or slimmer cam lobes. Next thing you know you're able to reliably hollow out the camshaft which will allow for smaller cam chains and thinner gears.
It can be a snowball effect. A 800lb bike is gonna need burlier wheels, heavier rotors, bigger springs, bigger forks which hold more oil. If you start off heavy you'll keep needing to add beef to deal with the weight but, on the other side of the coin, if you build light and you can safely continue to remove weight.
Perfect example is modern 4t dirt bike engines. Look inside a 5 valve WR450 engine. The valvetrain is tiny , dead nuts reliable, happy to rev and makes twice the power of something like a XR400. All that big swinging mass inside XR400 engines keep it from ever making great power and it tears itself apart in the meantime. I've been down that road. I put a mild cam and exhaust on a XR400 to allow it to rev freer ( not higher) along with a slightly higher compression piston. Some revs and 11:1 compression and you cant keep the cylinder studs from pulling out of the cases. My KTM and Yamaha run much higher compression and you can wind em up and hammer on them day in and day out without issue.
Things were made lighter in order to make them stronger. Flywheel effect is not the same thing as heavy reciprocating assemblies. Heavy reciprocating things rob energy to change directions, and they impart that energy in to their surroundings while slamming back and forth.