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Ubuntu stopped being the lightweight Linux distro, and Linux Mint filled the gap it left behind
(www.xda-developers.com)
This is a most excellent place for technology news and articles.
When they first started, they had a list of promises. One of them was to always fit on a 800meg CD.
That wasn't "light weight Linux" for 2004. Back then I would have probably been looking at Slackware or some other era appropriate minimalist distro if I wanted a minimalist Linux.
Back in 2004 USB thumb drives were realtively new, and Ubuntu would have failed fitting on any available on the market. Yet a handful of minimalist distros could (depending on if the minimalist distro had a DE or not, and the overall package goals).