I grant you that a flashlight is not particularly a high tech device, but as flashlights go, this isn't just your common everyday flashlight.
First of all, it is much brighter than the common flashlight. Then it has a much higer quality of beam. It is also rugged enough to handle the abuse it is going to be asked to take. It is built in a chasis that combines a mount that allows it to be attached to a rail and also gives you a very nice foregrip. I recently paid, $100 for a foregrip without a light. Don't discount the rail mounting. This is one of the best features of the light to me. For one thing, I can add or remove the light at will. The light adds weight to the rifle, but if I don't need the light, I can easily remove it. A second benefit to the mounting system is that I can buy one light and use it on any of my AR15s that have a rail system. On with the features. This light has two LED lights for those times when you need some light to see, but don't want to fire up the big light. Then their are the switches. You have a momentary on switch located on either side of the grip, you have a constant on switch, and you have a switch for the LED lights. And there are no wires running around on the gun.
To me, this makes it a little more than just a flashlight.
It is expensive, and I am not sure I can honestly say I think it is "worth" the amount they charge for them, but on the other hand, I paid it, so it was worth it to me.
Low tech doesn't meant that is has to be cheap. There are plenty of low tech items that are simply very, very well made. Technology isn't everything.