The large reported $E2$ strength between the $2^+$ ground state and $1^+$ first excited state of $^8$Li, $B(E2; 2^+ rightarrow 1^+)= 55(15)$ e$^2$fm$^4$, presents a puzzle. Unlike in neighboring $A=7-9$ isotopes, where enhanced $E2$ strengths may be understood to arise from deformation as rotational in-band transitions, the $2^+rightarrow1^+$ transition in $^8$Li cannot be understood in any simple way as a rotational in-band transition. Moreover, the reported strength exceeds textit{ab initio} predictions by an order of magnitude. In light of this discrepancy, we revisited the Coulomb excitation measurement of this strength, now using particle-$gamma$ coincidences, yielding a revised $B(E2; 2^+ rightarrow 1^+)$ of $25(8)(3)$ e$^2$fm$^4$. We explore how this value compares to what might be expected in rotational, Elliott SU(3), and textit{ab initio} descriptions, including no-core shell model (NCSM) calculations with various internucleon interactions. While the present value is a factor of $2$ smaller than previously reported, it remains anomalously enhanced.