It is worth remembering that LED chips contain many microscopic parts, and the manufacturing process is very complex.
Firstly and most importantly, higher-quality chips will last much longer on average compared to those of lesser quality. Given the difficulty in replacing an LED chip compared to say an HID bulb, longevity is of paramount importance. There is nothing worse than having an LED spotlight on the front of your vehicle with a few dead chips!
Secondly, high-quality LED chips will be much more consistent in colour temperature, which means the appearance of the LED driving light will be much more uniform. LED spot lights using high-quality LEDs will have a better Colour Rendering Index (CRI), which is a measure of the accuracy with which the light reveals colours to the human eye.