Yes, because having an engineering degree, I know that everything you buy is made with the express intent of being as cheap and easy to make as humanly possible, while being just inside the boundries of danger and liability.
The lamp is obviously designed to cool the bulb using convection, sucking in air from the bottom and exhausting it out the top. This is why it has vent holes. If it didn't need vent holes, they would not have put them in and would have saved themselves $0.25 per lamp at a corporate profit of $100,000 over the 400,000 lamps they produced.
While 12 hours of continuous use is a reasonable test, it is not really adequate to prevent your house from burning down. For instance, how do you know that the insulation on the wire inside the lamp was not slowly evaporating away the whole time? Or the excessive heat to cause the socket to warp and fail? Or maybe it was a cold day outside and you didn't have the heat on, keeping things just under the danger threshold...
Or maybe the whole time, the plastic is outgassing a toxic and highly flammable substance which will explode in a tremendous fireball the next time someone lights up a cigarette?
Seriously, I'm just saying it's not a good idea... sealed housings for lamps are typically made to much better standards than non-sealed ones, because heat build up is such an issue.
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