I know DIR/GUE practitioners don’t like anything on the right side except a canister light. This was a great concept when it was developed and has a proven track record.
I stopped using a canister light years ago, because I just don’t have much need for them any longer. Even at 130-165 FSW, there is plenty of ambient light to dive with. I can use small handheld lights to restore colors when I want to.
I still have my canister light and use it more to stay proficient with it. But modern technology is vastly replacing the need for long burn time canister light.
To get back to the OP’s question, I moved my knife from the left to the right side. I tuck the loop in my belt and loop it around my knife (just like I would have with a canister). An alternate replacement for the right side canister, Apeks makes a Hose Retainer. It replaces the canister and you can loop your hose under the belt and around the Hose Retainer. It works fine, with a couple of tri-glides to hold it in place. I find my knife works just as well.
if you dive with heated dry suit undergarments and are going to lug around the battery might as well run the light off the battery too. Outside of that and really long cave dives then I agree.