In my experience, it does not.
Dyneema, err, Halcyon for anything that doesn't get checked for a flight, Ballistic for things that do.
I'm mixed when I imagine a Cadet in Halcyon (my EDC for laptop, chargers, notes, folders of receipts, and an assortment of dongles and cables). The savings of around half a pound based on a guess from the Pilot specs is tantalizing.
For my travel, weight has become almost as important as volume when I consider what I take and what I pack into. Most European cities require at least trekking down stairs, if not up stairs as well, when using trains and subways. 50 g isn't a lot by itself, but all those 50g reductions quickly add up!