FWIW, I picked up some LEDs of that style, like back in 2012 or something I forget. Was back when they were fairly well established and cheap, but before the tight optimization of modern brand name parts. Were just no-name Chinese things.
Anyways, the efficiency was modest (I don't have a way to measure it, but... probably in the 50-100 lm/W ballpark?), and the phosphor faded quite substantially over several years of typical usage, leading to a purplish glow and reduced light output.
In contrast, replacing them with much smaller (but much pricier) Cree XTEAW-00-0000-00000HGE3 or XPGDWT-H1-0000-00GE7, at whatever it is, 100-200 lm/W, the efficiency gain is so dramatic that actual power dissipation is substantially lower. So they're smaller and don't get as hot to begin with. Have been using them for some years now with no apparent fading.
Typical failures for LEDs in general, include chip quality: leakage, contamination, fractures, etc., reduced (blue) light output, etc.; chip bonding (bondwires, die attach); phosphor bonding (can physically fall off some types, e.g. completely-blue street lights); and phosphor aging (reduced yellow output, spectrum drifts blue or purple).
Tim