That’s what I thought too. There is the one o-ring between reflector/lens/inside of bezel, but no o-ring between the bezel and head. What stops ingress between the bezel and head? For all that they did right, they may have missed something right there. Should be an o-ring up at the top of the threads on the SS bezel and a landing inside the aluminum head.
Edit: Ok, so I checked the actual physical aspect of the bezel and head… there is indeed an o-ring groove in the SS bezel and there is a landing, there just wasn’t an o-ring applied. There are 2 extra o-rings in the bag included in the box so I put one on the bezel and it does fit to seal, so that’s covered even if they left it out on my sample when assembling the light.
Edit II: In a similar way that the newer Eagle Eye X6’s have a ramped shelf on the reflector that squeezes the o-ring out into the bezel, this one does the same thing. When tightened down the bezel is sealed by the o-ring on top of the reflector in a 3 way contact of lens/reflector/bezel. It’s somewhat difficult to get this o-ring to spread out into this shelf once taken apart, I found that a back and forth on/off as I tightened it allowed it to flare out into the reflector shelf.