I'm not sure, but I think nano11 is even more aggressive than tiny11builder's "tiny11coremaker.ps1":
"The resulting OS is not serviceable. This means you cannot add languages, drivers, or features, and you will not receive Windows Updates. It is intended only for testing, development, or embedded use in VMs where a minimal, static environment is required."
That's Windows alone without installing anything else. Also with System Restore off, plus disk swap & hibernation disabled.
Nothing heroic like removing Edge, but Edge was definitely not updated nor was the OS online yet. I would expect bringing that image up to date now would more than double it.
Going further when you manually disable features and background services you know you don't need, it goes down below 1GB in memory too, and you can easily browse places like HN on a PC having only 2GB memory and no disk swap enabled.
Watch your step with such low memory though, you can't browse just anywhere and it gets a lot easier to step on all the proliferating newly placed "land-mines" if you're not careful :\
"The resulting OS is not serviceable. This means you cannot add languages, drivers, or features, and you will not receive Windows Updates. It is intended only for testing, development, or embedded use in VMs where a minimal, static environment is required."
Depends what you mean by "just running". If I had to run a non-VM'd windows, I'd opt for a mostly-full version (10 IOT LTSC or 11 LTSC)
Given Microsoft's recent history, it would be reasonable to assume that most of that bloat is full of software that is actively aiming to harm you, scam you, or spy on you. More than disk space, it burns CPU cycles and bandwidth that you are paying for.
It may be worth considering if you are hosting a database or a file server though, but this is very atypical for a Windows PC.
I guess this would also be good for things like ci/CD pipelines, testing, etc