Kinda. But it doesn't look bad to me personally. In fact, I personally prefer the dual projector set-up at the loss of LED indicators if I'm honest.
That being said, if I had known about the way in which the 5 series adaptive lights worked over that of my previous e91, I would have definitely ticked the LED box.
The actual look of the lights, while might be slightly better looking to you, makes little difference to me (although I do agree the LED lights do look great). But the functionality, had my dealer informed me of what they actually did, would have absolutely convinced me.