Is a 20-can soft cooler under 2 lbs the sweet spot for hiking?

Yes, for most hikes. You don’t need an overbuilt Yeti for a day on the trail — the extra insulation adds weight you’ll feel after mile three. For a day hike (4–6 hours), a cheap soft cooler from Igloo or Coleman works fine. For overnight trips, an RTIC or Orca is lighter than a Yeti and keeps ice just as long.