And here we already see the problem. Convoluted and impractical interfaces. To turn the light on, it is not simply enough to press the button all the way like it would be on a forward clicky, instead one has to double press it, and then triple press for 2nd mode. Not something I'd consider actually usable, or practical. I'm sure many will be fine with it, but I'm a person which is very particular regarding flashlight interfaces. If I can't pick it up and figure it out right away, If I need to look up how to use the light, there is something wrong with it. To me such lights are toys or gadgets, rather than functional tools. And having to lock-out a light to stop it from draining the battery is not a good look. Imagine needing it in a critical situation, just to find it not turning on, because you forgot it is locked-out.
The Maglite ML50 and ML300 work great, very easy to use and not complicated - press and hold for momentary or a quick double tap for high or triple tap for low. Standby drain is a disadvantage with electronic switches, but it takes many months or even years before the cells get drained - not something that you notice if you are using the light frequently.