OK, here are the results of my minimal testing. It is no where near the life as advertised but I believe more than serviceable for backpacking and it can be repowered.
I have put it through 7 cycles that were between 2 and 2.5 hours each (a weeks trip). At the end of the last cycle it was pretty dim but in the dark I could still easily read fine print though I had to hold it over the page and in the beginning it was a bright overhead light. Even so, 7 decent cycles for $1.25 isn’t bad.
The new design (not like the one on the review site) is sealed very well and has an excellent twist “on-off” design where a tab pushes a contact and there is no glue tabs you can cut apart. It is two halves that when pressed together, locking tabs are sprung into place. To really see how it works, you will have to cut the first one open by cutting off the clear bezel and pulling up the reflector foil. Then through slots you can see the tabs and using a thin knife blade, move them back to the release position and take it apart. Once you see the bottom half, you can see how you could drill small holes, take one apart, replace the batteries and reuse it. On the bottom half you would drill a small hole through the side, in line with the tab (they are actually marked for you on the bottom). Using a small wire (a paper clip would do) you can push through the hole against the tab and release it. Push the tabs, pop it open and replace the batteries (will they cost more than $1.25? Doesn’t matter—it’s better for the environment) and push the two halves back together and the tabs will lock into place.