Often true, but it's a question of quality.
First, you need a quality DC power supply for the light. Most bulbs use small capacitive droppers that let a bit of current squeak through with each change in polarity from the AC mains. These need to be well designed with plenty of filtering to provide stable light without lots of flicker. The power supplies are also generally the failure point, rather than the LEDs themselves.
Color temperature and quality are addressed with phosphor coatings over the LEDs. With an appropriate coating, they can be perfectly suitable for many lighting applications.
The issue for all of this is mostly cost; quality LED bulbs are still rather expensive. Passable-quality LEDs are becoming much more affordable, though.