LED's are known for that 1 in 4 will not last as long as the manufacturer states it'll last; When it comes to planted aquariums I prefer to use T5HO dual or quad fixtures because it allows me to focus in on plants 2 chlorophyll stages with each stage peaking at different wavelengths. Yes this can be done with a LED fixture but say I want to change over to saltwater in a year or so, I can just get new bulbs for the T5HO fixture instead of having to buy a new fixture.
But it all depends on tank size ?"x?"x?", low-medium-high light plants, substrate, type of fertilizers, and co2 source. Such as this...
My current planted tank specs...
Tank size - 30 gallon (36"x12"x16")
Lighting - 36" T5HO dual bulb (6500k, wavepoint ultra growth wave)
Mix of low-medium-high light plants
Substrate - 3" Flourite original
Co2 DIY co2 system for now
Fertilizers - Dry fertilizers, with osmocote plus original w/ calcium following EI dosing
So yes what you said is true that T5HO bulbs should be replaced at least once a year to maintain PAR, and that LED fixtures do last longer. With that said there's only a few affordable LED fixtures that won't break the bank that target both stages of chlorophyll in plants. Such as the Finnex Planted+ is one of affordable fixtures for planted tanks that target the chlorophyll peaks.