The cheap magicshine-like lights are certainly worth considering. They certainly produce more light. The downsides are that they have a separate battery pack so there are two pieces to mount, and some buyers report quality issues. To get the most lumens per dollar, you have to look at those lights.

I've got an earlier MagicShine 808 and was pleased with the value. Since then, the self-contained lights have improved the lumens per dollar ratio. I now have a bias for one-piece lights.

If you can't get enough lumens for your price from a self-contained bike-specific option, the magicshine-like lights would be one of my top two options. The other would be an 18650-battery flashlight and handlebar mount. The runtime of a one-cell flashlight is shorter than the magicshine clones with multi-cell battery packs, but you do have the option of carrying more batteries. And the flashlight would be one-piece on the bike, with no cable running to a separate battery pack.

It's a matter of preference and needs for your situation.