I think the Chinese cater to a different market then what we are used to. The American manufacturers cater to an elitist crowd that impresses people with their "toys" to play with or a survivalist light built to last the final days of the world. Some of those American lights use harder to get batteries. Yes, American lights will survive a drop from two floors. The American light can be proudly displayed on an executive desk or out in the wilderness. For the price of an American light you don't dare lose it.
The Chinese make lights for the masses. Workable, useable, cheap to buy, cheap to run and no one cries if it gets lost. A secondary market for the inexpensive lights is for modders. I wouldn't dare take apart an expensive American light to mod for fear of scratching the light or ruining the electronics or ruining the value. On the other hand an expensive Chinese light like a Dorcy, yes, made it Taiwan, I have no problems in ripping into the light. If I break them I wouldn't cry too much at the $6 I lost.
I think of collecting LED lights as a hobby. If I can get a useable rare and/or unusual light for an inexpensive price I'm happy. I've collected cheap cameras too. Not for everyday use but to play with. I consider the Chinese lights in the same category of collecting.
Yes, the Chinese can make the light cheap. It is a poor country and the people want toys. They can make products cheaply. But the Chinese can also make quality products if the market demands it. Even sent to the US the Chinese prices can still undercut what American manufacturers do.
Think of where the LED flashlight market will be in 10 years and the Chinese are showing us what it will look like. I'll bet LED lights will be as common, cheap and sold everywhere. Like the electronic calculator, VCRs, CD and DVD players these lights are going to be cheap everyday items. Probably most American light manufacturers will die out with their expensive products. Dory has seen the light (bad pun) and has jumped on the cheap LED lights to their advantage.
The Chinese manufacture a lot and can build quality items.