It is all about volume and new iPhone sales. I'm sure it will last. Until there are 20 other LED Flashlight apps in the store. THAT will kill its revenues.
Considering implementing an LED flashlight is literally like 20 lines of code and a few .png files, I'm amused at how many (incredibly shoddily written) paid versions exist. I wonder what goes through a customer's head as he/she scrolls through pages of free versions to buy a $0.99 flashlight.
"It's infinitely more expensive! It must be infinitely better!!!"