I can understand how a person could feel that creating a new product line is a waste of time and resources, especially considering the limited resources that are already available along with the fact that the product line that's intended is already developed by many other parties. I can see that logic; it makes sense and is a legitimate concern. I also think that the actual developers realize this and will weigh their effort carefully so as not to become too fragmented.
On the other hand, I do not believe this venture of creating a slimmer product line to be a lesson in futility. I believe that new insight and development will come of it that will contribute directly upstream (i.e. standard and soho/deluxe) - I'm betting that some already has

. Whether or not a slimmed down VL will survive (let alone survive to a final release) remains to be seen.
VL Light is not Puppy, nor is it DSL. That fact alone should dictate that there is valid reason to pursue a venture of this sort. If it fizzles, then so be it; if not, then so be it.
The original thread of "should VL attempt at Light version?" was closed. I do not think this thread should be a continuation.
