I honestly go back and forth. Being able to see Larian's Underdark environment and dungeons is artistic and beautiful. So, in that regard, it's kinda nice to actually see everything. On the other hand, being able to see everything ruins the entire immersion of the super dark, scary Underdark with monsters coming out of the shadows to pounce on you - who are waiting just beyond your torch's glow.
I get that it's a video game, and that in some respects lighting is incredibly important. The last thing you want is for players to be floundering around in the darkness getting frustrated because they can only see maybe 60 feet in front of them constantly. On the other hand, other video games have done it well.
Baldur's Gate Dark Alliance 2. Roaming through the spider lair in the goblin caves. It was pretty dark, but there was a sort of glow around the characters allowing them to see a fairly decent distance in all directions. It wasn't great visibility, but you could see, and enemies would suddenly come out of the darkness and attack. It added to the intensity of the encounters.
I really don't like the flashlight vision because you can't see behind you or in any other direction but the cone. That's not good for a game where facing isn't important. I'd much rather have it be similar to the Dark Alliance 2 game where those who have Darkvision have a sort of glow up to 60 (or in the case of drow 120) feet around them when you select them. Everything beyond the glow is pitch black. For those without Darkvision, pitch black unless you are using a torch. IT'S THE UNDERDARK!!! You shouldn't be able to see ANYTHING unless you have Darkvision or a light source.
And, frankly, if you don't use a lightsource, those who don't have Darkvision should be totally unable to function. Even if they don't darken it and you, the player can see everything, the characters should have some sort of reaction when they don't have a light source in total darkness. They are absolutely blind. I shouldn't be able to run around as my drow with Gale, for example, and have absolutely no light, and simply forget that Gale can't see. He should be like, "Um. Excuse me. A little light, please. I can't see a thing down here." And he frankly shouldn't move. The man can't see to run, let alone jump. You might argue that the drow could lead him about in the dark, but that only goes so far. I'm just saying, even if they don't darken the environments, the characters should at least react to what is supposed to be total darkness.