It's a bit tricky to determine what exactly is "cheap" though. I've got various Philips Hue bulbs/strips with no failures at 20k+ hours. OTOH I've got a few Philips Ultra Definition bulbs over my kitchen island which seem to fail at an average of 10k or so hours.

None of the other bulbs in my house are really on long enough to say much about failures... like I've got dozens of recessed LEDs without any failures over 5 years, but I doubt any of them are over 1-2k hours.