Great question. It seems like its an issue of light spectrum vs light intensity. It makes sense to me that spectrum is more important than intensity. If that's the case, hanging the light lower with less intensity would seem to be less stressful and would produce happy plants and good yields. But IDK for sure. Last grow I followed the manufacturer's recommendations for distance from canopy (24" veg & 18" flower) and used the dimmer to keep from burning up my plants. Didn't get a good feel for it though cause the 100% sativa plants grew into my light with nodes too far apart. The dimmer was set on no more than 5 during veg, and 7 of 10 clicks during flower, so 70%? The yield was good . That makes me wonder how a lower vs higher light intensity affects node spacing. I didn't have the environment dialed in, the difference between day/night temps was to great and that contributed to the node spacing, but I don't know how much. Imma fittin' to find out though cause the next grow has started.
This convo makes me wonder if I need to go ahead and buy a light meter as several have suggested.