Not really, the elephant in the room with LED bulbs is essentially always led die temperature.
If the thermal management is imposing a packaging volume lower limit for heat dissipation then there is no reason to try to make the electronics more compact then that lower limit on system volume.
Note also that this is not a DC link cap in the classic sense operating more as a high frequency bypass cap, in that this circuit delibrately operates in constant on time mode where the voltage on this capacitor approximately tracks the absolute value of the mains (Thus improving the power factor), nobody is going to use an electrolytic for 100nF of capacitance.
The X2 cap might simply be a BOM reduction excersize (Makes C1 & C4 the same part), in volume production this might actually be a bigger win then going to a ceramic father then a film part
Regards, Dan.