I'm afraid the concept of travelling light does nothing for me. I don't mean I travel with "everything" but going HLO, except when HLO is genuinely sufficient, isn't on and with a checked suitcase I can take more stuff to make the trip less 'compromise or without' in nature. I can dress up a bit if we discover a fancy restaurant or get invited out where casual isn't good enough; I can go sightseeing comfortably on that very cold day because I have brought an adequate coat; I can change out of soaked shoes because there's another pair, and so on. HLO 'sufficient' to me means a trip of 3-4 days only or one where the climate and activities will be very much the same and I have days where I can send out one or two sets of clothes to the laundry.
Most of my o/s trips these days are 3 to 4 weeks, and very definitely isn't the same climate or activity type throughout. I'm still fit enough to tote a 23kg bag through airports and from the airport out to the curb (more if required, eg when bringing booze back) and as I always cab/car for my transfers, I'm never toting it far (eg from bus stop to hotel).
For work trips, there is usually 5-10kg of work boots/clothes/jacket anyway.
Lost luggage? There's nothing in my checked bags that can't be replaced. My carry-on is always sufficient for 2 to 3 days.
I acknowledge the handiness of HLO, and waiting for bags at the carousel can be a pain, but that 15 minute investment in waiting for bags makes the following 2 or 3 or more days that much easier if I have all the gear and clothes I need and I don't need to schedule myself around washing / drying and stressing about packing.