[RetroTechie]

A LED bulb = LED(s) + electronics.

It's usually the electronics that dies (specifically: electrolytic capacitors, if included).

Life of the LEDs themselves depends a lot on operating temperature. Running hot (like in the cramped innards of a bulb), their output gradually decreases or they burn out @ some point. This is the fate of many cheap bulbs with poor thermal design.

Separate electronics (read: and their waste heat) from the LEDs, cool them well (and/or run at reduced power), and the LEDs can last practically infinite. Just like standby LEDs on appliances don't burn out. And -potentially- failed LEDs or driver electronics can be replaced independently.

But this does require a purpose designed fixture. Chip-on-Board (CoB) LED is the keyword here.