I think the Lumintop Thor 2 and Thor 3, and Astrolux WP4 are the current sweet spot for price and performance.
The thor 2 is my favorite size, with a 40mm head and 1700m throw. So slightly more throw than a Noctigon K1 with W1, but infinitely more pocketable. Can be found for$140. Really not a bad price considering the K1 is $100. The only single-cell LED light that just about matches it in throw is the Maxtoch Hunter X PRO, which is $170, and has a massive 78mm bezel. Of course you could get something like the Convoy L21B with W1 for$35, but it only has a 60mm bezel so doesn’t throw as far as the K1.
The Thor 3 has a 60mm bezel and throws 2500m. You can find it for around$150. I think that’s the best value for any of the bigger LEPs.
The Astrolux WP4 has a 30mm bezel, and 1300m throw, and is$100. It’s the most pocketable and affordable. IMO the performance doesn’t impress like the larger ones or the thor 2. I’d rather have something like the Acebeam L18, which has a 52mm bezel, but it’s still pocketable to me, and still throws ~1000m with way more lumens and a bigger hotspot, and a similar beam style due to the TIR. If I’m going to have the unuseably-tiny hotspot of an LEP, I’d rather it throw further. But these smaller LEPs are still very cool for the size.
The Lumintop Thor 1 and Amutorch BT35 are similar to the WP4, and also similarly priced.
I think when you consider the capability over an LED light, and the cost of the LEP module, these are reasonable prices. But when you think about them as toys, which really for most people they are, then yea, it’s a lot.
Obviously I hope they go down in price more, and the only affordable LEPs are coming from Lumintop, Astrolux/Mateminco, Amutorch, and maybe a couple others right now. Anything from Weltool, Maxtoch, Acebeam, Fenix etc is still super expensive, and hopefully over time those companies can offer LEPs that are at least closer to the prices of their LED lights.