Sort of. There are so many outright lies about leds, or lighting in general, that the average grower is totally confused
What we want is ~ 50 umols per m* (squared). Doesn't matter whether we are using HPS, EDFL, CFL, or led
That is your barometer/qualifier as to whether the light is up to the task. Most leds companies lie, using the potential output @ 100%, when 70% is max at this time. High quality lights (Apache/A 51) are lucky to hit 70%= ~ 30-% efficiency, so do the math
Now, of those 50 umols/m*, we do need the right combination of spectrums, which is different for veg and flower.
The sooner you learn thi,s and demand more from led manufacturers, the sooner we will get QUALITY lights, BUT, don't expect $1/w. $2.50+/w is more likely at this stage of development