I'm not sure how much more streamlining they can do to a WiFi lamp that offers tunable white and RGB colour mixing options. It's basically a power supply, Wifi module and then a rather spectacular I2C serially controlled five channel linear regulator.
As with all products like this, running them at a lower power setting will result in much less heat and significantly longer operational life. The biggest factors in lifespan will be LED reliability and heat related aging of the electrolytic capacitors.
It's probably worth mentioning that the linear regulators used in these lighting products probably have other applications too. They are designed to operate over a wide voltage range, so should be suitable for low voltage projects as well as mains voltage use.
Although branded Eveready there was an Energizer sticker on the WiFi module. I'd guess this is a product from one of those companies that buys up dead brands for their status.
The Bright Power buck regulator is quite neat too. It's a very standard approach to providing a low voltage supply, and there seem to be different versions for different voltage ranges, with each chip having two voltage options that can then be cheated higher with a zener diode in the feedback path.
Not sure the purpose of the mystery capacitor. I'd guess it's a low value and intended to remove a bit of switching noise from the buck regulator.
Given the functionality of the light the circuitry is surprisingly uncluttered and minimalist. That's entirely down to the very modular approach.
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