Spherically symmetric bosonic stars are one of the few examples of gravitating solitons that are known to form dynamically, via a classical process of (incomplete) gravitational collapse. As stationary solutions of the Einstein-Klein-Gordon or the Einstein-Proca theory, bosonic stars may also become sufficiently compact to develop light rings and hence mimic, in principle, gravitational-wave observational signatures of black holes (BHs). In this paper, we discuss how these horizonless ultracompact objects (UCOs) are actually distinct from BHs, both phenomenologically and dynamically. In the electromagnetic channel, the light ring associated phenomenology reveals remarkable lensing patterns, quite distinct from a standard BH shadow, with an infinite number of Einstein rings accumulating in the vicinity of the light ring, both inside and outside the latter. The strong lensing region, moreover, can be considerably smaller than the shadow of a BH with a comparable mass. Dynamically, we investigate the fate of such UCOs under perturbations, via fully nonlinear numerical simulations and observe that, in all cases, they decay into a Schwarzschild BH within a time scale of OðMÞ, where M is the mass of the bosonic star. Both these studies reinforce how difficult it is for horizonless UCOs to mimic BH phenomenology and dynamics, in all its aspects.