Its a whole other thing to do a supply chain intercept on an entire factory run of pagers, build a difficult to detect explosive into them, get them into the hands of your enemies, and remotely trigger them over infrastructure you don't directly control.
This is an incredible level of execution. And, presumably, the IDF or some attached intelligence agency demonstrating how deeply they own their adversary's networks.
But yes, the supply chain sabotaging is certainly impressive.
It seems the model was the AP-900, not the AR-924, which used alkaline (ie removable) batteries, so a new theory is an EFP (explosively formed penetrator) manufactured into the device.
It appears the devices do not function on cell phone networks but instead on internal radio networks such as those used within industrial or medical settings.
Best guess is the displays because:
1) there is enough room for the EFP,
2) you could modify the component to trigger itself, meaning it doesn’t need coordination between any other parts of the device
3) there are a lot of injuries to the face reported — with a display you could trip on button push without needing access to the button, when people tend to be looking right at the EFP
4) in the videos the explosions look very directional