My preliminarily take (its still new!) is that it depends on what you're optimizing for during and after the program. The perception gap you're seeing reflects that, not a problem with the program itself.
A few perspectives that might be useful:
On the brand and community side, LBS itself is the brand, not the specific program length. The 1YMBA students share electives, clubs, recruiting events, and the career centre with the traditional MBA cohort. You'll build relationships across both groups, plus the MIM, MFA, EMBA and Sloan cohorts who are also on campus. The networking ceiling is set by your own effort, not by which program you're enrolled in.
On career outcomes, LBS Career Centre is genuinely one of the strongest among European programs and they care intensely about employment statistics. They have to report them, and reputation depends on them. My experience is that they invest accordingly. The 1YMBA being newer means there's less historical data on outcomes specifically for that program, which I suspect is part of what's driving the cautious perception you're seeing on some forums. That's a fair observation but not necessarily a reason to avoid it.
On the "is it taken as seriously" question, my read is that recruiters who hire from LBS hire from LBS. The program length is a secondary detail, especially in Europe and the Nordics. In some US contexts where the 2-year MBA is the default, I suspect you may need to do slightly more work to explain a 1-year format (though that's also true for INSEAD and IMD).
My honest caveat: the 1YMBA compresses recruiting, electives, and networking into a much shorter window. Traditional MBA students often have a buffer for course correction, study trips, treks, and slow-build relationships. In the 1YMBA, you need to be clear on your post-MBA goals before you arrive and ready to start recruiting essentially immediately. That's an advantage if you have clarity, but a challenge if you're using the MBA to figure out your direction.
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