The Battery Alone Can Do A Lot Of Damage.

https://www.jpost.com/breaking-news/article-820621

Particularly if it's detonated in a controlled, deliberate manner. Rather than an uncontrolled, accidental manner.

https://edition.cnn.com/2019/06/19/health/e-cigarette-vape-explode-teen-study/index.html

In a strange way it would be reassuring for those of an anti-Israel bent to blame explosives. It's a lot less terrifying than the knowledge that any pager could be made to explode using nothing more than binary code.