Can't you improve this product with a screwdriver (to open it up) and wire-snipper (to cut off the LED)?

Oh yeah, it's definitely solvable if you can be bothered with it.

It was more just the observation that an unnecessary light had been included that degrades the performance of the product.

I find it intriguing how that comes to be. On paper it seems like adding the light wouldn't hurt the product even if not useful but no body actually used it it seems.

There is a chance the led is also used as a important diode in the circuit, plainly removing it can greatly reduce the lifespan of the device. (more common in cheaper products)

Adding a appropiate diode in it's place is advised.