True, something like my DDR30GT Jetbeam ( 3,680 lumens ) will start to ramp down after only a couple of minutes on turbo, from the heat produced from its X-HP70. But an older, large light like my WolfEyes Pilot Whale doesnt step down at all from heat from its 6 segment Osram led. Both because of the massive area of heatsinking from the body of the torch, and the fact that it only makes 1,000 lumens at best, plus the older tech involved.
There are a lot more factors involved in this area than first meets the eye, and also others far more qualified to talk about it than me.