It's becoming clear to me that flashlights are an excellent substitute for bike headlight, lumens-wise and cost-wise. Is there a similar substitute for bike taillight?

(How about covering a flashlight with a red transparent film?)
With great options like Planet Bike Superflash Turbo, Portland Design Works Radbot 1000, Blackburn Mars 4.0, and Cygolites new 2W rechargeable all available for below $35 with mount .... why?