This could have consequences in the LCD backlight market. We were all given the impression that CCFT was bad technology and LED backlighting is forever. Also to be considered is the "war" between plasma TV and backlit LCD.
Thus far, anything white LED based that I bought that has failed has been powered by the mains. I haven't had any LED flashlights fail. The LED devices on that mains that failed did so in a binary fashion (no freakin' light), not dim. I think we would be doing good to have the Chinese LED light drivers last long enough to wear out the LEDs themselves.