Looking at all the features that older phones uses to have compared to newer ones, I never hear anyone talk about the removal of the notification LED. I personally really liked that feature, being able to see if I got an email, a text or missed a call without turning on my phone was awesome. My Samsung note 8 had this feature, but to my knowledge, newer phones (in the major companies anyway) have abandoned this feature. Did everyone else unanimously agree they don't care for this feature?
One is an annoying fairly bright flash on the back of the phone and the other is a small dim LED that mainly shows information passively by shining constantly until a notification is addressed or acknowledged.
The notification LED can be seen discreetly by just glancing at your phone at any time, the flashlight on the other hand actively interrupts you and is useless if you didn't see it when it blinked.