They should, but I suppose like most things they get hijacked by our obsession with 'cheap'. Our halogen was the same, leaky but working.
'On average', LED lamps/bulbs certainly do last very much longer than any sort of incandescent (albeit probably not as long as many expect**). I have a fairly obscene number of lamps/bulbs in my large house and (quite apart from the electricity bills!), in the days of incandescents I used to joke that buying bulbs was a very significant part of the running costs of the house - I certainly used to by bulbs 'by the dozens', rather than in ones or twos. Since progressing (via CFLs) to LEDs almost everywhere that has totally changed, and it is only very occasionally that I have to replace one.
I would add that, over the years, I've done a fair bit of experimenting, as a result of which I now usually buy more-or-less the cheapest LEDs I can find - since my experiments have shown me that the most expensive branded ones are not appreciably better (in terms of survival time).
As with almost any manufactured (particularly mass-manufactured) product, there are a small number of very early failures but, once one has been in use for a week or three they usually last for a long time.
** I think that some people's expectations of life expectancy (of any sort of bulb/lamp) may be influenced by a lack of understanding of the limitation of the figures quoted/claimed by manufacturers. When life is claimed to be, say, 10,000 hours, that will nearly always be a median figure, meaning that 50% are expected to fail before 10,000 h (and 50% later than that), but this tells us nothing about the distribution/spread of survival times in those which don't get as far as 10,000 h. To consider an extreme, if half of them only lasted for 1 minute (or even 1 second!) and the other half lasted 10,001 hours, that would still be a median of 10,000 h.
What we really need (but very rarely are told) is some 'centile' other than the 50% one (the median). If we were told that, say, 90% were expected to last 5,000 h, that would be more meaningful, and it would then be clear that such a product was preferable to one in which 90% lasted only, say, 1,000 hours, even though it is quite possible that both had a median expected life of 10,000 hours.
The thing is with thatch though, can't put halogen too near because of the heat.
One thing that someimes gets overlooked is that, although the front if the envelope of an LED will be dramatically cooler than that of an incandescent (and particularly a halogen), the 'other end' of an LED can get very hot (due to 'the electronics'), particularly high-powered ones (which often have a substantial heat sink for that reason).
Kind Regards, John