I get your point
Alley_Cat , and I think it's sensible, but also largely impractical. Cutting or restructuring story elements should have happened in pre-production editing. While changes are possible during the game's development, I think the wholesale restructuring that you're talking about would be a nightmare. I think L&P has crafted a game that is so interconnected in ways big and small, that deciding midstream to move content to DLC would be too difficult. Some, like the side jobs, could be more easily removed than others, but I have a feeling that all of these storylines will be interconnected in some way. It could manifest in dialog and references, or it could manifest in entire plot points. But either way, it would require extensive work to the script to make sure that continuity is maintained, while also planning for the future insertion of the removed material.
The original sin has always been L&P's project management skills and his lack of help. He badly needed a trusted confidant early in development that could help him manage the story and point out potential issues. Now that we're about a 1/3 of the way through the game I just don't think he could easily remove much content without taking extensive time to modify the script accordingly.