Yep, textbook failure mode. Some of the LEDs cook and fail short circuit, triggering the driver's overload protection, so it shuts down. It then restarts a fraction of a second later, lighting the remaining LEDs, overloads again and repeat. The world would be a better place if the drivers could detect this happening and stay off until power-cycled, and even better than that if the designs weren't penny-pinched with regard to heat dissipation.
A big part of the problem is that it's hard to non-destructively evaluate whether a given LED fixture is any good.