Brightness is by far the biggest factor in perceptual differences and perceptual color spaces are approximations.
Also LEDs don't typically flicker unless a dimmer is on the circuit and their PCB isn't made for that. You might be thinking of florescent lights that are pulsed with a ballast.
You are probably seeing early LED fixtures with terrible electronics put in luxury buildings as the hip new thing years ago. All it takes is a capacitor above 170 volts after the rectifier to smooth out the AC.
Also LEDs don't typically flicker unless a dimmer is on the circuit and their PCB isn't made for that. You might be thinking of florescent lights that are pulsed with a ballast.