Short answer: No.
If you're used to running plants under HPS, then LED is going to be a bit different. You have to make adjustments and compensations from one to the other. LEDs are more efficient and save some money on the electricity bill....but you can also save on electrical costs by using the oven less...or running the dryer less. Plants don't see efficiency. They see photons.
Some people say that the HPS spectrum is not "ideal".....but I've seen and had great results from using HPS. Some plants might even prefer the HPS spectrum. I think it really boils down to the genetic material. If you're working with good genetic starting material then I think you'll get good results, regardless of the lights -as long as the lights you use are ones that you know how to use.