That's not true at all. LED's have come a long way.
Realize that with MH, you will be replacing those bulbs every year, for about $60-100 a piece, creating a lot of heat, which can be a problem, and sucking the power company dry.
I run T5's now, which work great, but will be upgrading to LED as soon as financially able. My T5's cost me $400 annually in bulbs alone!
There are cheaper LED's out there than the Radions and Al Sols, that do a great job growing corals. They are efficient, create virtually no heat, and have an estimated 10 year bulb life. For me, it's a no- brainer!
I would research carefully so you don't end up regretting it later.
Metal Halides and T5's work great, but they have their drawbacks.