In theory.
replyBut real defenses are generally multi-layered. And in that context, a Swiss cheese slice with only one hole is still extremely valuable.
Well, that's where OpenBSD falls short, it lacks facilities to really enforce defense in depth - even NetBSD has some better features in this regard.
replyLPEs do need to be fixed, but for most people it's not a threat model they need to worry about.
replythis is a misconception
replyyes, most company settings don't run untrusted code, and OpenBSD is mostly used for servers not employee devices
but that doesn't mean LPEs aren't quite relevant, because they matter for pretty much everyone if combined with other vulnerabilities, like RCE, supply chain attack etc.
and while RCE are becoming less common, supply chain attacks have been increasingly more common