Even once you get that LED blinking, changing a clock speed for that blinking LED should be near instantaneous but more likely requires a rebuilding the whole project. Fundamentally the vendors don’t view their chips as something designed to run programs, and this legacy hardware design mentality plagues their whole business.
Something important here: Xilinx could and should have been where NVidia is today. They were certainly aware of the competitive accelerated computing market as early as 2005, and fundamentally failed to make a software architecture competitive with CUDA.
Before CUDA even existed I interned at Xilinx working on the beginnings of their HLS C compiler. My (decade older) fraternity brother led the C compiler team at Altera. We almost went into making a spreadsheet compiler for FPGA (my masters thesis) together but 2007 ended up being a terrible year to sell accelerated computing to Wall Street.