I have found that LEDs tend to last a long time, but not as long as the marketing would have you believe!
The LEDs don't/can't really burn out, but the electronics that control them is not as robust as the LEDs themselves.
Regardless, I have replaced maybe 5 LEDs in the last 6-7 years, which is still miles ahead of the other obsolete options.
For those that did not know, the BLUE LED was such a challenge, and was so important to the development of white LEDs to allow for the production of consumer light bulbs, the inventors of the high efficiency blue LED won a Nobel prize in 2014 (not log ago at all!)
en.wikipedia.org