Even worse, it's above the EU limit which mandates <0.5W (since 2013) [2].
[1] https://www.iea.org/media/workshops/2012/network/3ViegandSes...
[2] https://en.wikipedia.org/wiki/EC_Regulation_No._1275/2008
Affordable for many, yes, but IMO, for a LED lightbulb, that's horrendous. Let's do the math: 0.7W full time is 16,8 Wh a day.
In use, a 1000 lumen bright LED bulb uses 14W. If we assume you have it switched on 12 hours a day, that 0.7W at 24 hours a day adds 10% to its power usage.
More realistically, your LED bulb will take 10W, and be on for four hours a day, for 40Wh. That means that 16,8Wh adds almost 50% to your power usage.
And I think the typical bulb will use even less power and an even lower duty cycle. 8W, 2 hours a day, and you have a radio broadcaster that occasionally switches on a light :-)
By the way, 0.7W also is also against the spirit of an EU directive on power consumption (http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:320...), which by now (it's over four years after this came into force) states:
The power consumption of equipment in any condition providing only a reactivation function, or providing only a reactivation function and a mere indication of enabled reactivation function, shall not exceed 0,50 W.
The results are still a little too janky for my taste but the costs are getting there.
[1] http://www2.meethue.com/en-us/productdetail/philips-hue-tap-...
The zigbee switch also has a relay in it, which is the majority of the cost, but if you're controlling a bulb with a built-in receiver, you're not using that relay. There really aren't much cheaper zigbee, zwave, wifi or bluetooth wall switches.
I'm also building a RPI kiosk to manage them