1. The heat from the LED chip is well dissipated. It is definitely a good thing for the buyer, but a waste of material for the manufacturer.
2. The heat of the chip inside did not dissipate at all. It accumulates all inside. If bad contact between the chip and the heat sink, there will be impurity between, which cause the heat of the chip does not emanate and only a small part of the heat transmitted to the surface. Therefore, you don't feel hot outside. In fact, most heat still inside of the light.