You're right though I want to mention the LEDs are also damaged by the heat, their color temperature will wander, lifetime will be reduced, and brightness per watt will also be reduced. Still useful for projects and areas where perfect lighting isn't as important.
Indeed. And, as another commenter pointed out, LED bulbs often overdrive the LEDs in order to maximize light output -- but doing so significantly decreases the lifespan of the LEDs themselves.
