During a presentation at SID Displayweek 2018, Coherent showed a nice chart that summarizes the performance difference between LCDs, OLEDs and Micro-LED displays.

LCD vs OLED vs MicroLED comparison chart (Coherent)

Micro-LEDs have many advantages - including much higher efficiencies and brightness, when compared to both LCDs and OLEDs. The main challenges with Micro-LED is the high costs in the production processes currently used, but many believe that Micro-LED displays will find commercial success in TVs, VR, microdisplays and wearable devices.

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Low aperture ratio

Unfortunately the table says nothing about the extremely low aperture ratio (about 10%) of MicroLED compared with LCD and OLED.

To be fair, at high pixel density such as Full HD at 5-6 inches in smartphones, this would probably not be noticeable to user, but not being noticeable does not mean not having negative impact on image quality or even on eyesight and health in general.

This drawback looks like a deal breaker as for MicroLED.

New technology open to become the best one.

Micro led technology is still young and still have much R&D ahead. But be sure it will be the preferred technology over LCD and OLED in the near future. All disadvantages will be overcome including the aperture ratio.