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It seems to do its job, and Trek has a history of making excellent lights.
It might seem unnecessary from a consumer perspective, but there is a point to this existing outside of Trek simply trying to acquire a piece of the pie: Garmin margins are small if one is a Garmin direct dealer, and even smaller if one purchases their Garmin inventory through a distributor. If Trek can provide their dealers with a similar device and let them make more than 35% margins, then it serves a purpose.
I might be mistaken, I seem to recall Giant sending me an email sometime in the last couple of years saying that they were coming out with something like this, too; but nothing ever materialized.
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