The cost of electricity dominates bulb costs. Here's some quick approximate math.
40W incandescent, $1 cost, 1,000 hours life.
10W LED, $5 cost, 10,000 hours life.
Electricity $0.12 per kWh, my cost is about USA average.
In 10,000 hours of use, incandescent cost is $10 for bulbs, $48 for electricity. Total $58.
In 10,000 hours of use, LED cost is $5 for bulb, $12 for electricity, Total $17.
$17 is much less than $58.
In reality a 40W equivalent LED would use closer to 8W than 10W, and would last longer than 10,000 hours, and costs less than $5, so the comparison result would be skewed even more toward LED.
Now what happens if you live in Germany. Electricity is €0.31. Which is 3x what I'm paying. So now the electricity comparison is €124 for incandescent, €31 for LED.