In researching ultralight headlamps I came across the FireFly Ultralight Headlamp. Practically the same specs as the popular Petzl e+Lite, the Firefly has 40 lumens as compared to the Petzl e+Lite's 26. The Firefly doesn't rely on a retractible headband. The headband is a shock cord that can be adjusted and removed if necessary. The lamp has high, low, red and flashing. The lamp can also be adjusted for tilt and there is a clip for mounting to the bill of a hat. The one I purchased came in at 1 ounce. Like most ultralight headlamps it uses Lithium CR 2032 batteries. The price point is close to the Petzel. I've used it several times and it works well for a camp light. I probably wouldn't use it to night hike but I'm sure some people would be fine with the 40 lumens and spot light beam.
https://www.amazon.com/FireFly-Ultra...00C2CGUWG?th=1