Couldn’t you do the same with a Wyze bridge set and the motion/light sensor?
Not that I know of. You'd have to go through Wyze servers I believe and you would also be restricted to WiFi distances. This hardware setup avoids both of those pitfalls.
Your limited to WiFi with either solution. Yes you would have to go through Wyze services, but you could get notifications the same through home assistant.
LoRa range is 3 to 10 miles depending on terrain, so those two points still stand.
In general, commercial equipment will be cheaper and easier to use.
But when you build your own, its more extendable, and also community-driven development can have advantages if the community grows. LoRA is a growing community, with more-and-more interesting devices being added to it.
Wyze, unless it gets reverse-engineered or unless they embrace open-source, is a proprietary solution that relies upon the company to make new additions.
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