Personally, I don't understand what is wrong with 400-pound boats. Rick and I sailed our Hobie 18 for almost 15 years and never had any problem whatsoever moving it around on the land -- that's what beach wheels are for. And once it is in the water, what difference does the weght make if you are racing one-design?
I just figure lightweight boats appeal to singlehanders who don't have a crew to help them get their boat in and out of the water.