Thanks for the very nice review of this for me not very attractive lantern. I would have thought that Olight would do a better job, as you also mentioned in the review, but of course we are spoilt with the LT1. I do like that it is shorter and more lightweight than the LT1, and I think the handle design is smart and handy, something to steal for a LT2 
18500 batteries is the less efficient choice compared to 18650, but I guess they wanted to make the lantern shorter. It is indeed remarkable that they went for cool white leds, it is not that neutral or warmer leds are not available or so much less efficient, they must have done some research into customer preference that resulted in cool light 
The runtime of the white leds sound reasonable if you do the output/mAh calculation, but for the 1 lumen candle insert something is way off. You should be able to make 1 lumen of warm light with 5mA (at 4V), but the runtime of 46 hours points to 165mA. They manage to waste 97% of the energy somehow?? , if it was done right the runtime could be 1500 hours.