This is a really interesting question!
I’m actually quite happy with my closet atm, although there are pieces I want to add next season.
However, I could probably manage on half of my closet.
I have no intention of clearing out my closet-when pieces become over worn, (favourite tops or leggings for example), I discard them, tailoring and leather jackets are more investment pieces..
If I were to have to rebuy, there are things I wouldn’t buy, but they aren’t going now.
I Do have mini clear outs from time to time, but I’m generally a minimalist, and everything fits me.
I keep a bag in my closet for recycling, when it’s full I donate it.