The biggest problem with LEDs has been that efficiency drops as the LED is scaled up in brightness.
Most likely they solved that by placing a very large number of smaller LEDs together in one bulb.
But it's not going to be easy to reduce the cost when you go that route.
The basic research of making a bright LED efficient has not been solved yet.
Problem is more the LED itself still has a 10cent/lumen cost. Many LED manufacturer are bringing more and more fabs online and with volume the prices keeps dropping. So far the Haitz law is still good for the LED world. In the next 4 years the LED illumination market in the US will go from couple million dollar to $5B per year and the 60W pulp replacement is expected to be around $16 retail price. Calculating the energy and invest cost a LED replacement in 4 to 5 years you will have an ROI of less than a year for LED light product.