Getting zoned out and having few options to get in without hurting yourself is what makes the MU bad. Again look at Sinestro :V
The iceberg at max range is annoying but unlike Sinestro who can beat Lex from zoning alone because of how good it is against him, KF has insanely good close range options for when Lex actually does get close (that flipping slide and ridiculous damaging combos). Trait dashing isn't available all the time and does not net enough reward unless the opponent does something incredibly ambiguous at mid range (and to try do it on reaction to absorb a move means Lex takes MORE damage because he didn't have time to get leve; 2 or 3 trait).
Aquaman is also a character who still does much better at mid to close range than Lex does ONTOP of his long range options. Deathstroke is similar in many ways with his close range mixups and GTF off me moves.
I learn alot from Lex by watching high-level play. If you are saying Aquaman holds all the cards at long range and mid range, I think you need to see the proper counters for it:
Especially mid-range, where Aquaman has two options:
1) throw out a slow attack that can be punished by corp-charge
2) allow Lex to get out a mine/probe/shield
I'm not saying Lex destroys Aquaman, and it certainly can be a tough fight, but Lex has tools, and if you observe during this match, the Lex player is careful to stay at mid-range whenever he can. Lex just dominates AM there.
Watch what happens around 6:00
*** Here's some notes on where to find Lex tech being used in the match, and then I'll see if I can point out where in the video the tech is being used, and then provide a link to where you can find a detailed explanation on this sub-forum. Hopefully that will help you out
***
8:15 trait-dash cancel punish. There's not a tech place for this on the forum since it's pretty specific to only a few characters' ranged attacks.
7:00 This is a mine setup that uses a mine after a knock-down, and follows up with a jump-in. It makes a very difficult to block low-overhead mixup. It can be avoided by a tech roll or even stuffed by some good horizantal wakeups (Deathstroke's sword flip will armor through the mine and stuff the jump in)
At 1:00 there is a brilliant fake-out where the Shazaam player is expecting the previous mine-j2 setup to be used, but instead the Lex player lands into a throw setup. Alot of Lex's throw setups come after probe and grav-mine setups which usually means the Lex player is going to go into a 50/50 for higher damage but instead get thrown.
7:10 (this can be found here:
http://www.testyourmight.com/threads/lex-luthor-tech-gimmicks.37998/)
After a knockdown, you can trait-dash forward than neutral jump on the downed enemy for a ridiculously ambiguous crossup. Best used in the corner.
8:00 (this can be found here:
http://www.testyourmight.com/threads/lexs-1-1-string-advantage.36755/) following up a grav pull with a 11 gives Lex ridiculously huge advantage on hit, and allows him an additional 50/50. Since you don't get a massive damage bonus off risking the additional 50/50 after the 11-reset, it is best used in corner or after stage bounce combos because Lex gets extra damage off the start-ups to help tip the risk-reward scales.
10:50 Just want to point out here that when Lex has his shields up, Corpse Charge is basically his new forward dash because it's unpunishable. At low-level play I find alot of people will instinctively try to punish corp charge even after Lex has trait active, which usually ends very badly for them
