You are referring to systemd-journal-gatewayd, which has a dependency on libmicrohttpd, a 93 KB web server. You don't have to run it - it's an optional unit, that even when enabled is activated on demand. You don't even need to build it, since it can be disabled with a configure flag. If systemd-journal-gatewayd were a separate package, nobody would complain about it. So why is it such a big deal that it comes included in the systemd source tree?
QR codes for kernel panics is actually brilliant, because it encodes the data which would otherwise just be serialized to screen in a manner that makes it portable.
That actually might be nice but don't get your hopes up, systemd isn't actually part of the linux kernel as some conspiracy nuts would have you believe. The systemd project can't possibly just add random stuff to kernel panics, all of that code is in the kernel, not userspace.
I think a little while ago there actually was some work done on making kernel panics display a QR code but I doubt it'll ever be merged in if it's even done.
I think you're right, but if that's so, then apparently all of the features the OP claims to be bloat in systemd are questionably in systemd at all, and the entire discussion is moot.