I run with very modest lighting, all things considered. First of all, the distance that you can be seen is limited by many factors, often curves in the road or other vehicles. Even if you can be recognized at hundreds of yards, who cares? Drivers don't need all that time to avoid you.
High powered and pricey bike lights are for seeing the road/trail ahead in dark conditions. Being seen by other drivers requires less power. The beam pattern for being seen is also different from the beam pattern for riding in the dark.
Putting too much light output on a bike causes other problems - pedestrians covering their eyes, for example.