I wondered where that "need" came from too. I'm far more often annoyed by cyclists that don't have a decent light, or any light at all, for no better reason than they can't be bothered.
To me it feels like a lot of technology being throw at a problem that could be far more easily solved by using a slightly bigger battery.
That doesn't make this project a bad academic exercise, of course. If the object of the exercise is to learn something about sensors, power control, product design and so on, then the fact that it wouldn't be a good commercial product doesn't matter.
Switching LEDs on and off is the least of your problems. It's completely trivial. The challenge here is sensing the unit's environment, and doing it in a way which is compact, inexpensive, draws much less power than an LED, and above all, is reliable.