I've done many extended trips in the backcountry with nothing more than a SAK. Bushcraft is largely an optional hobby, not something one
has to do when they go hiking. In fact, in many places now, particularly in the West, hacking down trees and making fires on public land is not even legal. As with so many things, I think it's just a matter of anticipating your needs and then choosing a tool accordingly. If you're not planning on carving bowls, hacking a shelter out of the forest and processing firewood, then there's really no need for a larger 'bushcraft' type blade at all.
Still, I think there are some good reasons to have a decent fixed blade on you, even if that's in combination with a small folder/multi-tool. If you'd like a compact and very lightweight, but still very capable, fixed blade for hiking/backpacking, I think the Bark River 'Ultra Lite Bushcrafter' is a great lightweight hiking blade. There was just a fresh run of these, and lots of choices still to choose from at the usual dealers (I have no affiliation with BRK):