For every Watt that goes into a power LED, you get a certain amount of brightness, and a bunch of heat.
1) The heat damages the LED itself over time. Heat also temporarily makes the LED less efficient, which lowers brightness.
2) An LED can only be driven so hard. They become less efficient the higher they are driven. After a certain amperage point, they can be damaged or so much less efficient that they effectively max out.
Batteries really have nothing to do with it. Today's batteries are good enough to provide a lot of power. An 18650 IMR can put out 6-7 amps each!
LED makers main area of improvement is to make LEDs that produce more brightness per watt. The first benefit is obviously more light per watt.
This also means more power goes into the light which means less wattage is 'left over' to make heat. Therefore more efficient LEDs is a double win.