im sure you could probably drill oh say 50 or so 3/8" holes in that gas pipe frame and not really have much to worry about. you might have to think very hard about where you put those holes and even after that youd have problems with corrosion related failure. but it will be lighter.
i say do it and film every moment you spend on it.
It doesn't have to be light to be fun.
But pedals, stem, bars -- an easy 3-700g. The BB, cranks, and seatpost and problematic and/or expensive to swap.