In the old days, when JMB was playing with guns, designers were usually not engineers and indeed engineering itself was at a pretty primitive stage. So Browning, Mauser, and others, made critical parts as thick as they thought was needed, then built in a big "fudge factor" in the form of extra metal.
Now, when we know a bit more about metals, we can eliminate a lot that sheer mass and either make the parts thinner or make them in other ways or from other metals, like light weight alloys. But with guns there is another factor involved. We might, in theory, make a .44 Magnum that would weight eight ounces, but who would want to shoot it? Not I, thank you. So some of that mass is needed to make a usable gun, not just a safe or durable one.
Jim