That pretty much sums it up as I understand it. I have Hue stuff looking to switch to LIFX.
LIFX is ‘hubless’ but you still need to go through their cloud to interface with the bulbs (although there are apparently some hacky direct ways).
Just an FYI with LIFX and a 4pack you should be able to use the code ‘save10’ to save 10% which gets you in under the door at $171 or ~$42.75/bulb to get you started, whereas you’re looking at the best part of $260 to get you started with 4 Philips Hue ‘White & Colour’ bulbs (three in the starter pack including Hue bridge + one extra bulb).
So that’s ~$90 extra for the Hue route which ironically would buy you another two more LIFX bulbs for a total of 6 Vs 4 Hues.
I’ve seen some people say they have issues with LIFX and some say they have no issues. I would imagine the stability has a lot to do with how good your WiFi is and how much 2.4GHz interference you have in your house.
For reference, I hate using ZigBee for this reason (which Hue uses) my ZigBee devices (bulbs or sensors) are much more unreliable than my Z-Wave devices (in fact I have next to no issues with Z-Wave ever). With that being said, as much as I hate ZigBee devices and the issues I’ve had, I have to say my Philips Hue devices have worked flawlessly since day one. Not one single issue ever.