Your experience and my experience differ greatly, then. I manage around a hundred virtual and bare-metal Ubuntu 18.04 LTS systems. Most of our docker containers (not included in the number above) are based on an Ubuntu 18.04 image because that's what we have standardized our infrastructure around.

The LTS choice was an easy one to make. We are too busy focusing on delivering value to the business to spend much time constantly playing around with the underlying technology. We are not early adopters for much of anything (except hobby projects at home) because we need our technology to be an asset to the business rather than a liability. Depending on new and bleeding-edge software for production systems just creates unnecessary risk.

We'll probably start thinking about upgrading to 20.04 in six months or so.

You might be right, that %.05 of people choosing to use LTS distros are doing so for its service promises. But I'd counter that the majority of those who care are managing hundreds or thousands of machines / users. The end users might not know that they care, and that's because the admins are doing a good job.