That shouldn't be the case: I came back to the Mac in 2010 just because I needed the lightest laptop in the market that could run a UNIX flavor that worked out of the box: The lightest in the market was the 2010 MBA, and by a big margin. If that's no longer the case and LG was able to beat it, it's because Apple didn't do their homework: Air means Air, and should continue meaning Air with bigger displays. If LG can do it with PCs, Apple should be able to do it with Macs, and now even with more reason because the M1 is supposed to provide more power more efficiently.
There's, unfortunately, a hidden Apple interest here: they want the iPad Pro to succeed. Making a really good MBA would compete with it. That's very bad news for us.