I understand the concept of LOD but I am trying to find out the negative side of it and I see no reference to that from Googling around. The only pro I keep coming across is that it improves performance by omitting details when an object is far and displaying better graphics when the object is near.
Seriously that is the only pro and zero con? Please advice. Tnks.
LOD has a variety of frameworks. What you are describing fits a distance-based framework.
One possible con is that you will have inaccuracies when you choose an arbitrary point within the object for every distance calculation. This will cause popping effects at times since the viewpoint can change depending on orientation.