First thing is voltage, 120/230V is not suitable for LEDs, if lamps would have an external 12V or 3V power supply a few centimetres away from the LED, this would be great.
The second thing is, that lamps need some kind of (passive!) cooling solution, to remove the heat from the chip. A lot of lamps are more or less closed and heat up as a whole. This is really bad for all the electronics, and probably the main reason why LEDs fail early.