When I used a bicycle I would often change the position depending on the road type. If in a city the beam would be directed down with a larger angle to prevent from blinding the other drivers and pedestrians, as the road itself is lit and the light is used merely to bring attention to yourself. Also the angle varies regarding to driving speed and type of ground surface(gravel, asphalt ) when on unlit roads.
To elaborate on that last part, aiming down in the city is helpful because you can see far away objects with the street lights already and the bike light is helpful for spotting potholes
What happens when you use a different bit length with that drill? Or multiple people share a bike? Or you want to move that light to a different frame and you need the magnet at a different angle?