Quote from the developer:
Magnic Light is real !
I have spent countless hours developing my version of the perfect commuter light. Considering how much time I spent, and how much I spent on parts and pieces, this light is cheap at half the cost.
When I actually have one to use and test, I will update a report. I do think that some version of an LED bike light that comes on all the time, and does not need off the bike recharging, is an important item for the commuter and everyday bike rider.
In the mean time, I have tried to duplicate this principle on my work bench, but I did not get any satisfying results. It will be even more fun, when I can figure out how to make one myself.
I am not versed enough in electronics to decipher all of the propositions put forward in the forum. One comment refers to the developer's video and how quickly or not quickly enough that the spinning wheel slows. The energy has to slow the wheel, you cannot have a power transfer without a resistance. But, the type of LED light that the product is using could be quite bright with a watt or less of power. This suggests another experiment. When my generator hub was new, and it was used to drive a 1 watt or less light, it would also spin quite easily, almost like a wheel with no generator.
My guess is that the light is only marginally more efficient than a very good dynamo, but the huge advantage is that it could mount on a variety of bikes without the trouble of using a costly and complicating dynamo wheel. It would be a huge improvement over the option of using a bottle dynamo.
I hope it works.