Knowing my basis, I think it's something more people should do, even if it's not directly applicable.
For context; I'm learning coding and programming as a whole and while my knowledge base is still pretty bare in places where they really shouldn't, even I know that my code is probably bloated and inefficient to all shit. Working with a smaller amount of resources in either processing power or r.a.m. or storage or... all of these since they all evolve side by side with eachother I guess, can really make you think way tighter with your code. Ideally anyways, I haven't tried it for myself yet!
in a professional sense; probably not a good idea for alot of obvious reasons, it'd be like making after-market parts for a ford model-t's base engine.(except the ps2, that thing is still going somehow).