I don't think it's crazy to spend $200 on a headlight, now that I've spent much more than that on many headlights. Your satisfaction might depend a lot on the lights you've tried already. The battery pack is clearly a minus. And ease of removing and reinstalling is a point.

I think Cygolite products are good. I have one of their headlights, and it doesn't have a nice shaped beam, but it otherwise works well and has a really good mount, easy to put on and take off, without a rubber band. Cygolite headlights have a "steady flash" mode which is great: it has a high-intensity beam on all the time and then it gives an extra high intensity flash every second or so. I notice oncoming bikes from a long way off when they use this mode.

But having said all that, my favorite headlight (among the many I own) is a dynamo-powered on that is bolted onto the bike. Oddly enough, people don't steal it. And it comes on whenever I roll the bike. I leave it on during the day. It doesn't flash, which is a shame, but it's OK. It has a shaped beam. The light isn't amazingly bright, but it's bright enough for me. I've received compliments on how clear and focused it is. It does illuminate my path so I can see, and it does a fantastic job at helping me be seen. Busch & Müller makes my light, and they make a ton of models of dynamo-powered headlights, all with shaped beams.