*edit: but it’s the overwhelmingly larger lifespan (20-30k hrs) that led to the wide adoption as streetlights. And I guess, the same is true for the change to led today, because of less power consumption.
If you use shorter ("bluer") wavelengths, as happens with white LEDs which consist of a blue LED + phosphor, it causes people's eyes to become bright adapted and effective night vision is ruined, causing people to have much worse vision in the shadows.
Also, if you use bluer light, the lights themselves cause dramatically more glare in peripheral vision, because the shorter-wavelength-sensitive "S" cone cells and rod cells are mostly absent from the fovea (center of the retina), and prevalent in the outer areas of the retina. This is why LED headlamps on cars are so obnoxious for drivers going the opposite direction.
Also, the LEDs clobber people's circadian rhythms and are extremely disruptive to wildlife.
Finally, the light pollution caused by the LEDs is much worse for seeing the stars, which is maybe not as important as the other harms, but still kind of sad.
The sensitivity at sodium light is above 75% of the peak human vision (photopic) sensitivity.
This is a very small difference in light sensitivity. For example in the case of many sources of red light or blue light the sensitivity can be 5 to 10 times lower than the peak sensitivity.
Moreover, a perfect source of white light cannot achieve a better sensitivity than around 37%, i.e. less than half of the efficiency of an ideal source of monochromatic light at the sodium emission line.
Therefore the fact that currently LED lamps and low-pressure sodium lamps have about the same energy efficiency is caused by the LED lamps having a higher photonic efficiency and a lower threshold voltage (caused by a P-N junction voltage instead of the ionization potential of sodium), which compensate the disadvantage of using white light. A monochromatic LED lamp with the same color as the sodium lamps could have an energy efficiency at least double over the white LED lamps.
Wouldn't that be red light? But night scenes illuminated in red light have the side effect of looking nightmarish..
Yellow light a.k.a. amber light around the sodium emission line is a good compromise between energy efficiency, visual resolution and dark adaptation.
The low-pressure lamps emit monochromatic light and they have not only the advantage of long life but they are also the only other source of light that matches the energy efficiency of converting electrical energy to light of the LED lamps.
So replacing low-pressure lamps with LED lamps does not produce any significant economic effects, it was justified only by the supposed advantage of enabling color vision.
However in many places high-pressure sodium lamps have been preferred, which have a wider spectrum, so they allow some very poor color discrimination. The high-pressure lamps have a lower efficiency than LED lamps, so replacing them was justified by energy savings.
Outdoors at night, I prefer the monochromatic low-pressure sodium lamps, but sadly LED lamps have replaced them in most places.
LED was presented as a sharp improvement because of the large spectrum of white light.
What they aren't good for is LED manufacturers' bottom line, and the lighting industry spent a lot of lobbying money to entice friendly politicians to heavily subsidize them with public infrastructure budgets, with those subsidies then misleadingly sold to the public as "efficient" and "environmentally friendly".
They're also not very good for reading the newspaper or doing critical color analysis. Thankfully such tasks do not need to be done at night in the middle of the street.
