Sounds like a good light for a good price.
At a glance, it competes with the Zebralight H52 AA (I have the ZL H52 and have not seen the Fenix HL50)
The Fenix HL50 uses CR123A or AA cells
The ZL H52 AA uses 14500 lithium rechargeable or AA cells
The Fenix HL50 has a burst of 365 Lm with CR123A cell
The ZL H52 has a 535 Lm burst (1 minute max)
The Fenix HL50's highest output with AA cells is 285 Lm (Burst)
The ZL H52's highest output with AA cells is 300 Lm (High setting for .9 hrs)
The Fenix HL50 is .2 oz lighter than the ZL H52
Both have similar battery life at around 50 Lm with AA batteries (I remark on the 50 Lm setting because I like that for night hiking)
The Zebralight has a few more light settings than the Fenix and has a battery charge indicator but I like that the Fenix can use disposable CR123A cells for the higher output settings. The Zebralight relies on a rechargeable 14500 Lithium cell so harder to find in a pinch. The Zebralight has a higher constant brightness with AA cells however, I don't often use mine on high anyway. The Fenix burst mode would be annoying if you have to hold the button for burst.
Only a $14 price difference between these two lights. I doubt you could go wrong with either light.