LED in my bathroom and porch are both going on 16 years old... as I mentioned earlier they are name brand.. With the wider adoption and sped up production/production pushed to China I can see more failures. We had a power supply at the casino that powered a slot machine. Originals were made in the USA and only failed from to much coin dust or a coin working its way inside. Easy to repair, usually a blown internal fuse and while we were in there we replaced the electrolytic capacitors because they all had 100k hours or more on them.
Then they offshored production to China. Failures started after 4-5 months of use, regulator transistors blown, capacitors exploded(this always brought in a panicked call from the gaming floor..."the machine had a bullet go off in it! Then smoke poured out!!!").
I reverse engineered the Chinese power supply and they removed some safety components, changed capacitor ratings from 105c to 85c(these ran 24/7/365 so got HOT), used smaller wattage regulator transistors... in general they did whatever they could to save a few pennies knowing we would not be shipping them back to China for repair. We ended up rebuilding every last one of the Chinese power supplies to the same parts as the US built ones and they started lasting longer. Still had some issues, the circuit boards were thinner copper so traces came off due to heat... many had a maze of added on wires on the backs of the boards to connect things. And the solder they used had to be acid core, it ate legs off components!