You were partly right. While that light is intended for use on a bike, it doesn't really have bike specific optics AFAIK.

I've got a NiteRider 600 Cordless that I picked up for $120. It doesn't have particularly fancy optics either, but I think they're a little better than flashlight type lights. The advantages over the light you linked to are (1) USB charging, (2) self-contained unit and (3) mainstream company quality and support. Lezyne makes a similar light at the same pricepoint with these same advantages. I mention this mainly to give you a sense of where the next price level is and what you'd get there. The value of my third point is debateable. There have been some quality issues with MagicShine lights, but I've also heard good reports on support from distributors.