The "smallcore" debate has heated up again of late, with all its various tendrils. However, I still see a lot of the same misunderstands that I've been seeing for weeks. That can only mean one thing. Time for me to write something. :-)
I do not consider myself a "smallcore" advocate, for one very simple reason: It's horribly misleading. Allow me to repeat what I already said there:
The goals of the "smallcore" movement can be obtained without removing one single module from Drupal core.
Instead, I look at the question of Drupal's future direction from a simple architectural perspective: Is Drupal going to be an additive system, or a subtractive system?