Will AssumeUTXO allow a user to bootstrap a full archival node?

ie the node will still download all of the blockchain data, but skip the validation, in favour of accepting a specified UTXO set?

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IIR, as currently implemented, you still download and validate it. Assumeutxo just lets you get a node up and running instantly, while core does the actual validation on background.

The plan though is to allow a "don't bother" option that doesn't download at all. I haven't seen any talk on this direction you mentioned though. What would be the use case for that?