All examples of skeleton wall construction that I have seen are examples of 'weight-adding', not weight-saving. There is no structural reason for the remaining bits of ply to be any wider than they are thick - but if you cut a sheet of 3/4" thick ply to leave only 3/4" wide strips, it would probably snap in two if you try to pick it up.
"But it's easier to make the strips wide" is undoubtedly true, but then weight-adding is generally easier...
I believe the attraction of the skeleton wall is that it looks easier to build.