I’m more of a road cyclist (audax in recent years, but on various bikes including fixies and recumbents). As you say it’s difficult to pinpoint what works, but I try to pay attention to rolling resistance, drivetrain friction, aerodynamics, and frame stiffness (up to a point). I’m not too bothered about weight within reason, but some mountain bikes do seem to weigh a ton. I don’t ‘race’ as such, but I like to be able to go at a decent pace, and having an efficient bike is less tiring to ride, and lets you conserve energy while keeping up with other riders.
I had a mountain bike lesson, and the wide bars, flappy clothes, and sticky-oot knees go against what I’m used to. Some of the bikes seem pretty hefty as well. I don’t suppose there a lot you can do about rolling resistance – you probably just have to run whatever tyre gives you grip. Also, I imagine a really light bike would be a handful on the descents.
As for terrain, I was thinking of a mixed bag – maybe a coast-to-coast over a day, or some longer distance routes in Scotland, or even the North Downs Way – which I once did on my 90’s rigid bike when lightweight mountain bikes were the order of the day!