Lights with a generous reflector mounted to a light-mounting plate on a rear rack are the One True Way, I reckon. All our cycles have one of these. If your rack doesn't have a bracket, it's worth botching them on with P-clips or similar. It's worth it for the flawless beam alignment.
Additionally, I tend to run a Smart clone of some description, mounted further down in a convenient location. I run these in flashing mode when not riding in a group (being low down means the eyes of another road user following at close range are out of the beam). I'm particularly pleased with this bodge to mount one on the Streetmachine:
(The bike's on a stand at a weird angle, in real life the beam is just below the horizontal.)
On the ICE trike, I've fitted a pair of dynamo
[1] Pixeos to the front mudguards, combines with one of Those Excellent Infini Rear Lights on the rear rack (in flashing mode), to mark it clearly as a pedal cycle rather than a distant car:
None of these lights are particularly obnoxious, but in combination, and making full use of the available width, they're a highly visible rear lighting solution.
I've also fitted a Smart bracket onto the back of the trailer box, along with some botched-up reflectors:
I've basically given up on clipping lights to luggage - except when carrying unusual loads with the trailer. Lights with a conical or shaped beam are wasted unless kept in proper alignment, and that simply doesn't happen on soft bags or anything that moves around (rucksacks, saddlebags, etc). Best approach for luggage-mounted lighting is something omni-directional like the Fibre Flare.
Good reflectors are brighter than lights when in the beam of headlights, though obviously active lighting is still essential off-axis and in foul weather during daylight. Hence my enthusiasm for lights with large reflectors:
There's a lot to be said for those cheap On-One CR2032 powered lights as shown in the OP, for getting multiple sources further apart (reducing the 'point source' effect) or simply as a lightweight emergency backup.
[1] The dynamo has since been removed and electric assist fitted. I've done some electrickery to run the Cyo and Pixeos from the traction battery.