I mean - I'm not sure how folks got here but I'll say it to clarify it: Institutional User /= Single User EDC pocket carried flashlight user.
When someone else buys your batteries and/or you have a lot of gear that runs on them - sure CR123 makes sense. Barring those two reasons - there isn't a compelling reason to use them over a rechargeable form.
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Right now the three most common rechargeable batteries are NIMH AA, NIMH AAA, and 18650 Li-Ion. Folks may not understand why the 18650, but the answer is simple vapes and cordless drills. The most popular reusable vaporizers on the market use an 18650. Chances are good if you open up the average rechargeable battery for your cordless drill or whatever - you'll find it's got a series of 18650s in it, as well. In fact, if you crack open one of the battery packs of a Tesla, you know what you find? 18650s in a series.
All of this means that Panasonic, Sanyo, and IMR have worked to build the best protected circuit Li-Ion battery on the market in the 18650. Which is why it is becoming the standard for flashlights. The 18350 is basically same battery scaled down (mostly, some chemistry differences maybe present).
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In terms of lights if you want a made in USA light with a 1x or 2x CR123-sized form factor - Cloud Defensive, Malkoff, Modlite. If a Made in China works, FourSevens or Streamlight. Selecting a light that runs on the 18650 or 18350 battery. Note: The 18650/350 battery is slightly larger diameter than a CR123 - but it's a very minor difference - 2mm in diameter.
If CR123 is too big a form factor then opt for a AA or AAA format light. In which case then the FourSevens or the Streamlight offerings are both excellent choices.