I found the problem with the battery life. #StraightOuttaShenzen
I souped it up a bit, adding 260mAh replacing the UN PROTECTED original cell. Do not buy no way no day.

Update: this "1 Watt" LED torch draws 0.2 watts and its lithium cell measures at 45mAh, hitting low voltage cutoff (lol there is no safety circuit here, but if there was...) after 40 minutes runtime.

ETA: It would work for less than 10mins if it really was 1W.

@Unixbigot Just out of curiousity: Isn't this tube exactly the size of AAA batteries? I wonder if that was the plan somewhere earlier along the way of designing it like this.
@szakib yes the alt text in my original pic notes that also. Lithium batteries in AAA size do exist.