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In the olden days, when Garry was a lad, there was not much power control on most flash heads, and also ISO was fixed by the film. Then you had to shunt lights back and forth to moderate exposure. It was a right PITA, and rarely ideal.
No, when Garry was a lad the only flash we had was flashbulbs - magnesium foil with incredibly long flash durations, low power and high cost. They were coated with plastic to stop the bulbs exploding, which (usually) worked. We controlled power by changing flashbulbs, e.g. PF1, PF2 - can't remember the rest, but basically the PF1's had no cap (just a couple of wires for the contact, then there was a series of different cap fittings going right up to E27 Edison Screw, which meant that we had to have a range of different flashguns so that we could use different bulbs. We used these monsters instead of the hotshoe flashguns we have now.
We did have electronic flash, there was a Braun and a Mecablitz from memory, both very similar, with hammerhead flash heads and a 'portable' pack that went over the shoulder and it was a great help for photographers who wanted to build up their muscles.. Again from memory, very low power, non adjustable and a claimed 40 flashes from the lead acid battery - but that claim was before the Trades Description Act... most of us stuck to flashbulbs.
In the studio, it was continuous lighting. That too has improved since then but it still has the same limitations.
Then studio flash came in. The first units were the size of a fridge freezer and had the power of a hotshoe flash. They weren't adjustable and in terms of electrical safety, they were lethal. They never had enough power for the large film sizes we had to use then, and as new models with more power came in we learned to adjust the power using ND gels, which we learned from the movie industry (which has always had the very best lighting Gods).
History lesson over

As Richard says, the problem with a wide range of power adjustment is colour temperature shift, and long flash durations. There is often also a problem with very inconsistent flash energy. I know of one manufacturer that has colour temperature shifts of up to 1000K over 5 stops and up to 2300K over 7 stops, and with flash energy inconsistency of 120%, pop to pop, at the bottom end - and yet, in their own country, they are praised to the heavens by the beginners who buy them...