I have been following the LED lighting thing for quite a while and really wasn't a believer that it could be used for Reef aquatics until i seen a few myself.
But after reviewing the price, some were simply outrageous in cost, yea sure you save money on the bill every month, but in my experience the offset along with the inflation of costs in general,..it doesn't pay.
So to answer your first question; yes, cost is one of the issues but not the foremost.
Design and modularity is, I like things to be clean, manicured and easy to maintain in the event a corrective action is to take place on the lighting design.
I have admired many designs on this site, as well as the internet in general and I have seen many that deserve great merit, and others that are total ghetto design. You can see who is qualified to build such electrical components and some who are just bring an unsafe condition to them.
One thing that is un avoidable with the single cree's is all the wires and soldering that present all kinds of issues of oxidation of electrical components, especially in the saltwater atmosphere.
I have seen some on the market with small cards and neat jumper wires to make wiring easy, but the cost of the convenience brings you in the range of fixture that is on the market.
Another issue I have had with the singles is the need for either many drivers, or the use of very high voltage (250vdc range) which present huge safety concerns with the recipe of 200 gallons of saltwater below it. Many of these designs are being built by un qualified electrical workers (and yes I am 22 plus years) .
The 50 0r 100 watt hybrids I would think would be a safe modular approach to new designs, they both are available in 10,000k 0r 20,000k stand alone or 10,000k and 20,000k with 429-449nm spectrum incorporated in the bulb.
I would think that any of these in certain combinations would make LPS, SPS and frag grow out tanks flourish with aesthetics in mind, not to mention saving money, incorporating modular design and first and foremost safety.
I have performed many searches on this site and haven't found any design, there are a few on youtube, so are these LED modules new to the market?