Back in the distant past, when tape was king, and vinyl was the only mainstream consumer format, 0.1% W&F was considered the point at which it was 'good enough'. The only issue I have with lightweight platters is that wow is dynamic, in that stylus drag depends on the modulation, so a rapid transient will cause the turntable to experience a 'jerk' which can then take a while to settle down again. This can be minimised either with greater mass, or as in the case of my AEG and EMT turntables, very well designed servoes that rapidly allow for the extra drag, without overshoot. However, I accept that their effectiveness has to be taken on trust, as measuring that dynamically will be challenging. Certainly extra mass is a lot easier to engineer.
Wow and flutter (both tape and vinyl) has always been evaluated as a static measure, using a 3kHz or 3.15kHz steady tone, but unlike tape, LP modulation is dynamic and stylus drag varies with modulation, so a very low W&F measure may not necessarily result in low W&F under music conditions. I have never seen any measurements made of how stylus drag varies with modulation, so don't know if that's anything to be remotely concerned about.
I love vinyl, you can never stop fiddling with it...
S.