The easiest way to think about it is in terms of brightness and efficiency. In the old days, light was created by running current through the filament in your light bulb. It worked but it created a lot of heat. So some of the electricity went to light and some went to heat.
As technology improved they began to get more light from the electricity and less heat, making them more efficient. Because we don't want to waste electricity producing heat. LEDs create light with very little heat, making them very efficient.
Then they started adding reflectors behind them in an attempt to increase the brightness without using more electricity, like the reflector on a desk lamp makes more light go on your desk and less into the room.
And finally, many companies began to change the spectrum of the light so it was "plant friendly" for growing, but looks purple to our non-plant eyes.