I'm speechless. What is the point? Maximum size, least throw, and shortest runtime for a given output? I can get more output and about the same throw from a fluorescent worklight. The worklight is probably more pocketable (minus cord).
Wow factor: Wow, who'd buy that?
Sorry, not trying to flame, I just can't pass up a good rant.
Why, reliability, of course! Any good electrical or mechanical design uses redundancy to reduce the chance of complete failure...and 128 LEDs are certainly less likely to fail simultaneously than just one LED, right?