The color sensitive cones in our eye have three peaks of sensitivity, the S cones in the blue range, the M cones in the green, and the L cones in yellow. The L cones are what your brain uses to see red colors, but they are actually pretty insensitive to deep reds like 700 nm. That’s why you THINK that LED lamps produce red, because they stimulate your L cones, but they do so without actually emitting much red energy at all!
Our bodies are sensitive to deep red light. The cytochrome in our mitochondria respond to it. There’s an experiment where shining red lights on the skin improved sugar metabolism. That makes sense, because we naked apes evolved under red-rich sunlight.
So these lamps may look like sunlight, but they’re missing some crucial wavelengths.