At meridas 2 bottles is more than enough for between checkpoints if you're going a reasonable pace. Used just one actually the past 2 years and that was ok. Pockets for food, pump on frame, tube and multi-tool in the saddlebag.
As others say, so much nicer riding with no bag on. And I'll just take maybe a gilet spare. On a short race that's fine, longer ones tend to be laps (so that's fine) or have checkpoints. In which case it's fine, or if I slow down too much for some reason I'll abandon.
I always wonder what folk have in the massive bags at these events…
If it was a long event with no feed stations etc to refill (can't think of any?) food would be in a bag and i'd just stop for the seconds it takes to fish it out and get going again.