And a year ago you probably would not have seen an LED flood light at any price. Like lots of semiconductor-based items, the price has been going down for years. The brightness has been going up, too. A few years back, LED flashlights were mostly novelty and could not compete with Maglite-type flashlights. Now they are very bright and dominate the flashlight area.
Amazon has a 630 Lumen (50 watt equivalent) floodlight bulb for $22.50
Within a year, that LED floodlight will be more like $12, and within three years it will be $4. Even at the current price, it starts being attractive for locations where old-farts like me have to get up on tall ladders to get to.
Typical for product life cycle.