The availability of AppleCare for the Studio Display is the main reason I want that one over the LG Ultrafine 5k. I had two 27 inch iMacs in the past, and both had panel issues. Both had half the backlight go out after 2 or 3 years. One did not have AppleCare and was insanely expensive to replace, so I just got rid of it. The second did have AppleCare and luckily was covered.
It's hard to spend $1,300 on the LG model when there's no additional warranty you can get for it to cover it.