Well, we created ForestLOD because several users requested it, but really it's not necessary for the usual work in 3DS Max.
LODs are useful to improve render performance in engines based on rasterization (as Unity or Unreal), but engines in 3DS Max (as Arnold, Corona or V-Ray) use raytracing methods.
With raytracing and instances, the number of polygons is not as critical.
LODs don't save VRAM either. In fact, more VRAM is required to store the different LOD geometries. As said, it only improves render performance in rasterization.
Also note that CPU render engines don't use VRAM, just standard RAM.