You can buy a full Android 4.0 tablet for $35. It has Wifi, backlight, screen, CPU, battery and case. The BOM for this lamp is totally doable for a dozen dollars. It's productization that's the challenge. Sometimes, a smart scrappy start-up can hit it right.
The heat sink may be a concern for WiFi in the sense that a grounded metal enclosure is a concern for an antenna. Or maybe they turn the heat sink into an antenna? (Hmm, should I go patent that now? :-)