People usually think first of adding power as adding performance. But power affects only one parameter - acceleration. In contrast, reducing weight similarly improves acceleration, but also improves turning, and braking performance, and reduces the loads and wear on every other component (the opposite of adding power). And that is just in automotive performance.
As soon as you go to anything that flies, the same effects are just multiplied. Every gram of weight saved is either a 1:1 increase in available payload, or an increase in range and/or fuel that can extend range, and of course still improved performance across the entire envelope.
And the only reason that e-Vehicles get away with such absurd weights is that all that weight can be put low and centered in the suspension so the fundamentals of chassis dynamics is acceptable. They still massively abuse the tires, but with a higher weight distribution would be absolute pigs if no virtually un-driveable.
Of course, any vehicle choosing between a Wankel and this LP thing is not likely an overweight battery-heavy vehicle, so it'll count more. Obviously a 1% saving of 45 pounds on a 4500Lb EV is not going to do a lot, but ... yeah, it's still a key issue.
And this is especially an issue because LP is making it the central claim of their pitch, and it is so easily beaten by much older technology. Makes it seem more like a basis for fleecing investors than a serious entry to improve the state of the art.
For comparison a Model S weighs over 4,500 lbs.