Lobo's trait is pretty bad. You should either be able to load multiple nuclear shells up to a maximum of say 3. That way he could get more damage on those harder to perform combos assuming he has all 3 loaded, and it introduces more variety to his game. Maybe you could sacrafice like 4% per combo, so that after the opponent burns clash you can unleash a 60% 1-2 bar combo and finish it off.
This game does indeed have characters who are better late game. Characters like Stroke, and Black Adam have strong late games because by that time they usually have a load of meter to spend keeping you away with their unclashable projectiles. DS's trait is pretty bad, but it shines in certain late game scenarios where you need say 15% damage, have burnt all your meter and the opponent is sitting on a ton of meter. Just trait, do your damage and the round is over before you need to worry about a debuff period (Banes venom should be used in a similar fashion).
Cyborg's trait needs a complete overhaul, it is useless.
Joker's trait needs a rework, maybe parry does more damage, or HA's last longer, or additional affects, etc.
Lobo needs a rework.
Bane needs a rework from what i've been hearing although admittedly I have not played a good one so maybe people are wrong here? Idk.