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Well, firstly, it only needs to be done once. No further development or separation into a separate project is required.
Secondly, if the goal is to popularize TE, such a lite version can attract a lot of people, and for many, this will be the first step towards a full-fledged TE.
It's not that difficult to figure out what to remove from TE, as there is a detailed (bravo!!!) description of all files and their functionality.
The problem is to get rid of the unnecessary stuff from WOG.
Why haven't the TE developers created a separate installer that doesn't require a prior installation of WOG?
If we assume that such developments are underway, then all three points satisfy our goals. As soon as there is a separate installer (that doesn't require WOG), there will be no problems in making a TE version very close to SoD.