Word that means "Strip down to the basics" [duplicate]

Solution 1:

I feel like there is a word that literally means the act of taking something complex and making it simple.

As you eluded to, it's simplify:

[Merriam-Webster]
: to make simple or simpler: such as
a : to reduce to basic essentials
b : to diminish in scope or complexity : STREAMLINE
     // was urged to simplify management procedures
c : to make more intelligible : CLARIFY

As an adjective, something is simplistic, streamlined, or essential.

As a noun phrase, you reduce something to the bare essentials.