MaxToch is actually one of the rare sellers of DTP copper MCPCB's we have. I have quite a few - they sell in sizes Noctigon doesn't, so some are very special. I've used many of them. I would have no doubt they are DTP - it would have to be proven to me they aren't. I don't know why you would even question this, accept lack of experience or knowledge with buying them.
For the performance, I've looked at current and recent Maxtoch offerings, and of course, if you compare a XPL HD to a de-domed XML2 U3 or U4, they won't compare in throw. We know what de-doming does to throw, and that's its superior to any attempt by CREE with "HI" versions. I do see though, comparing domed LED models, the new M12 could do better, considering it's head diameter, assuming the reflector diameter follows. This of course is based on their specs, not actual tests and measurements.
For your comparisons of throw, without specific details of what exactly you are comparing in emitters/models, and what the measured kcd is, it's hard to say. For one, I'd like to see if they are in the ballpark in what they spec'd, because the spec's are pretty decent - 130 kcd (720 meters) is pretty good for a 66 mm head diameter, though it could be slightly better.
For the finish and engraving, that's troubling for sure... Specially since it's 2 for 2 here: T18 and RMM, both agree. Whether it looks cheaper or is cheaper, hard to say, but certainly the same attention to detail they used to have is not happening now.
For the buttons, I don't understand the problem here - they say the small button is just for the blinky modes, so if it works as intended, it is what it is. If you are not a fan of blinky modes, this is not the light for you, or it's a given the smaller button is to stay away from. Apparently many manufacturers believe there is still a significant desire by consumers to have this mode. Maxtoch caters to law enforcement and military, so maybe they perceive the blinky functions are vital enough to dedicate a button to it.
Again though, to pay a full list price for this light is tough - I would not. The group buy deal was a significant discount though.
Edit: another difference here, just thought of, is the lights targeted for hunting/rifle mount were tweaked for throw with de-doming and higher amps. I'm think'n this M12 line is not for hunting, it's specifically listed for Police here, so I think they backed off on the amps to keep them cooler, and not so emphatic on throw.