Perhaps a better way to look at this product is from its target market and competition- mid power range, Osram and Cree. At 1/4 the size of a rebel, it is getting small - smaller and more powerful than any 3 or 5mm type led. The output is plenty for that market.
Osram and Cree have a number of mid power range products out there, which Lumileds tried to fill in with the older plcc type leds. It appears that this product is focused on filling into this quite large consumer segment. (appliance market)
It is a bit frustrating to not have 1,000 lumen LED packages coming out of Lumileds, but it might be worth your time to consider looking at the data sheets for the high CRI / high spectral output versions of the Rebel. While these dont appear to give the Lumens / watt ratings of some of the other parts on the market, the quality of light, and frankly, the very easy selection of CCT / CRI into standardized part numbers is just wonderful. It is easy to underestimate just how much of a gift this is to a light builder, unless you were around when people were paying $ 60 / each for a premium binned, Lux V, putting out about the same Lumens as a Rebel at 2x the power consumption. Not only that, you had to nearly be part of the "club" and have a "trade" to obtain more than a handful of these jewels.
Given the circumstances, I am happy to have off the shelf access to the wide selection of p/n's vs. the constant chase for the ultimate bin. I will admit to still being a bin junky, but at least it enables me to actually plan a product build.