I guess with BVH LOD you mean somethnig like DXR TL/BL AS, or UE5 global/local SDF?Isn't that a BVH LOD? Have a high detail one for close and a distant one where very low representation is adequate?
Problem is, while sounding reosnable, this only holds for a static viewport, or for a limited amount of time (e.g. a console life cycle).
You can not solve LOD this way. It's just a hack which may be initially impressive, then just good enough, and finally a real issue requiring urgent replacement again.
To solve LOD for real, we need to make detail decisions locally at every level of a hierarchy. And if we take this very literally, it even rules out a combination of points and triangles, for example.
Point splatting distant foliage seems really attractive. But how do we handle the transition to a one-lod triangle mesh, which is still to detailed at the location of the transition, and too coarse for close up views?
Considerng this, is it even worth to invest in splatting foliage, if it can't really solve any problem we already had before?
Or another example: Nanite has this local detail feature we want, but only per model. It does not solve the problem at greater distance, when the amount of models becomes too large again and they should gradually merge.
The solution to this is again just hacks.
The LOD system that i work on solves those problems, at least in theory. But only for a static scene, and at bad compromises regarding quality for close ups. No way around hacks to address this.
I think we'll be doomed to combine hacks for a long, long time. It feels kinda hopeless, really.
You could say that's what makes our work intersting, but i say it's depressing just as much.