I'd buy bulk like that only if I was planning on flipping it to make a profit. I have no use for that many flashlights, not even during a disaster. I don't buy gear with a plan of handing out gear to my whole block.

Also, flashlight technology is moving just as fast as any other technologies. The cool flashlight today will be outdated technology a few years from now. That may not matter to you, but it's something to keep in mind for those who care.

EDIT:
The Christmas gift idea is a good reason to buy bulk like that.