at the top end they've improved by miles.
there are a ton of low end and middle players building less efficient lighting. there are emitters and architecture still being built and sold as new that is at least 5 yrs out of date now. in order to know what a decent light is you really have to know the components that went in to the rig and how it was built.
i built cob rigs before they were commercially available. at one point most guys running led were doing it as a diy project. i came from a lighting background in production, so it wasn't a huge leap.
my rigs were expensive, well over a grand cdn, but every single one is still running. i recently replaced a driver on a 7 yr old unit and the rig fired right back up with higher efficiency than original. my rigs are built with dimmers and under powered cobs adding years to the lifespan. it'll run a good decade or so.
if you get a decent led built proper, there is little need if any to constantly upgrade, until such a time you feel the new tech is worth it.