I have a lenslight mini and a LED lenser P5. They definitely aren't the same in mechanism.
Lenslight mini: high-CRI XPG. Lens system appears to be a conventional aspheric lens. No reflector or backplate... the entire star is visible. Half the lumens are lost inside the bezel when the light is cycled to spot mode. Output has no visible rings in any focusing setting. Very large and heavy for what it does... it's as heavy as my SC600 even though the lenslight runs on 1xCR123. Feels durable with heavy thick sidewalls. Does not tailstand, 2 brightness settings, no tailcap lockout. Forward clicky could easily turn on accidentally in pocket. Twist zoom mechanism deposits grease onto the telescoped portion of the light when zoomed to spot mode. This grease is unfortunately right where my hand to tends to land. Wiping it away doesn't help because each time the light is cycled, a fresh layer of grease is deposited.
LED Lenser P5: Cool white Cree emitter (not sure what kind. Maybe an XRE). Unique focusing system consisting of an engineered plastic lens that wraps around the LED. LED is not mounted on a conventional star. Instead the LED sits on a post that protrudes into the pocket in the lens. Total lumen output remains virtually constant regardless of whether the light is cycled in zoom or spot mount. Compared to the lenslight, the LED lenser feels very flimsy and cheaply built. Single mode direct drive with no driver. Not waterproof.
Of the 2, I actually think the Lenser P5 is a better light for what it does. The lenslight is too big and heavy, is not suitable for pocket EDC due to lack of tailcap lockout, has a really awful plastic clip, and makes a mess with its grease deposits whenever the zoom mechanism is cycled.
There are LOTS of inexpensive budget lights with aspheric zoom optics. The most popular of which is probably the Sipik SK68 and related clones. There aren't many high-end brands with zoomable optics: LED lenser, lenslight and Wolf Eyes are the only brands I can think of.