50W 12V MR16 bulbs are $16 at the homeless despot.  The base is another $5 snail mail affair.  It would be more compact & more focused but much heavier than the home made solution.  More importantly, lions have already invested a hefty sum in the existing solution.  Commercial flashlights may not do what the super flashlight can do, but they're much cheaper.

There was an attempt to extract just the LEDs from an MR16.

Helas, they're 3 strings, each 94V & the boost converter is potted.  Each chip is 23V.  To save money, they use the same LED board as the 120V GU10.  The form factor & the lens would be an improvement although it doesn't capture as much light as a reflector.   Given the heating from running it outside the glass enclosure without a current regulator, it would have to run below its rating & probably have less brightness than the cheaper bulb with reflector.