Yup. The LED diodes themselves will last for decades if treated properly, the power electronics though are very often made with extreme cut corners and the thermal design is awful meaning bulbs much more expensive and environmentally impacting than a bit of glass and milligrams of tungsten wire are failing in similar time spans. Somebody should do an environmental impact study of shitty LED bulbs vs incandescents to determine if the manufacturing impact difference makes up for the energy savings.