Ask yourself, do you want to work with a bunch of people who present themselves like "X"? If the answer is "no" then don't do it.
For instance, maybe you have a graduate degree from a prestigious university but for whatever reason you don't want to work at a place where that's a filter, so you leave it off.
Maybe you've been doing technology X for a couple years and you're both good at it and really sick of it. So you leave that off too.
Really, this is about the kind of culture you want to be part of, the kind of people your want to work with and where you think you'll be happy.
You'll get fewer offers but you won't be working a job you hate that makes you miserable for the next year or two. Isn't that the more important thing?
Make sure you're sending your personal right signals