I don't like the final effect very much too, although it's not really unrealistic, since runway lights are not normally supposed to be omnidirectional, unless they have to provide circling guidance for an eventual visual approach procedure from a side, which is not the case at KLAX.
I'm not entirely sure how they are at KLAX but in general, if there's no need for omnidirectionality, there's probably a lens on each light which create the effect of seeing them clearly and large only when approaching, and progressively smaller at higher viewing angles.
To better simulate the effect, we might probably have to add a smaller version of the light angled a 90 degress with the main one, which of course means doubling the polygon count for the lights, we can surely try, hoping the fps impact wouldn't be noticeable.