Comparing white on AMOLED to white on an LCD isn't really fair. Like comparing idle fuel consumption in a Prius to full throttle on a Ford C-Max Hybrid. LCDs typically "default" to an "open" state, so white uses less power than on the AMOLED. MS used to display a warning about this on phones with AMOLED screens in Windows 8, haven't checked to see if it's in 10.
So, what's your stance on flash storage? It has a relatively short lifespan, much shorter than a magnetic disk. Of course just about every flash drive on the planet does little read and write tricks to prolong the life of the drive, but still, they have a finite lifespan. Of course people don't really care because the speed boost more than outweighs any lifetime concerns. Plus we generally will replace our devices before the drive starts to fail anyway.
AMOLED is the same way. The burn-in (which is a misnomer, they don't actually burn) issue was worse in the past than it is now. Part advancements in the technology, part smarter OS design by Google and MS (like being able to use a colored background with the navigation bar), but it's still there. But the pros tend to outweigh the cons, and it's not difficult to mitigate the uneven pixel wear, so they continue to be popular in cell phones, and soon, TVs. Plus with the frequency that people replace cell phones, most people are on to the next device before the screen becomes an issue.