It's sort of a misnomer that the L2 and L4 have "no throw"; they still put light downrange. They still outthrow cluster lights and other "flood" type lights. You should still be able to light up streetsigns a few blocks away. The difference is that since it's a flood, or "wall of light" as it's often called, you don't get the pierced darkness effect that a more throwy light gives.
That said, the L2 and L4 are definitely outthrown by many other lights, especially Luxeon III based or TIR optic using ones, or by LuxVs with bigger reflectors (L5, L6, U2). I personally find that while lights with massive throw are fun to play with, for general use, including walking around the neighborhood in the dark, a good flood (or at least plenty of sidespill) is more useful. An L4 would be just fine for this purpose.
One thing though, I hope you're powering it with 17670/Pila 168S/600S lithium ion rechargables. Using it for nightly walks on primaries will burn a hole in your wallet.
If you don't already own the L4, but are contemplating it, I'd go with an L2 instead (needs 14670 sized lithium ions for rechargables). The low mode is enough 95% of the time, and you've got a massive wall of light on high just a button push away. Runtime on low mode is looooooooong.