I've wondered as well. I think the light manufacturers aren't used to the current rapid rate of improvement in emitters, and their R&D isn't set up to take advantage of it.
They better figure it out, though - right now, companies like Dinotte and Niterider have better optics and enclosures, but at what cost? The Magicshine, for $80, *destroys* a $150 Dinotte on light output.