People starting as kids will naturally peak earlier than others. The chances of someone starting later will let running be the main thing in their lives is smaller, but there are nothing physical that can't be developed later. The only thing that makes a difference is if you are born at sea level or high above sea level.
It only takes so long before your vo2 peakes. Even lactat and economy can only be gained for so long. Some articles even stare that to much lactate can damage the cells and that the feet will turn less economical after high milage over many many years. We see in MMA fighters that they can stay on the top of the game for 6 years no matter when they start.