How come LED Light Bulbs only last for about 2-3 Years?

I’ve bought and replaced a lot of light bulbs, and I noticed that all of them said “up to 20,000 hours” which would be about 5 years given 12 hours of daily use (which we definitely don’t).

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    109 hours ago

    The bulbs themselves are amazing. There are good ones in cars and computers, the flash of phones etc.

    The failure point is typically the electronic components that run or regulate it. And of course most companies want to sell more bulbs so they conveniently skimp on that stuff. So maybe the answer is a more expensive bulb that hopefully will last long enough to justify the extra cost?