btw, put me firmly in the "He's heavily underrated." At this point I definitely won't say he's top, and yes he does have trouble landing command throw on certain characters, but simple things like AA 3 xx bf3 or a2a into 21 xx bf3 are all it takes to start a mixup game that is extremely threatening when he has meter. As much as I respect REO's opinion, I feel he's a bit biased in this regard. Putting him definitively below Shazam when both characters have similar string into special/command throw mixups (Except his is just command throw or escape), and he has far better AAs. You can argue that Shazam has better average meterless output off of practical starters and better meter building, but I don't feel that's enough to definitively put him above Lobo.
As I mentioned in my post in the other threads, one of the biggest things is fixing his options off of traited low shot, because its utility is rather poor at longer ranges compared to most characters in the game. It feels wonky and underdeveloped to me. And yeah, it's not a vortex, just a strong mixup. What makes Akuma's vortex what it is is the fact that most options aren't really punishable, or only by specific characters. If there's anything resembling a vortex in this game, it's Batgirl's combo into restand 111, which puts the opponent in a stagger that absolutely forces them to guesses block high or low and loops into itself. Every character has the option to make Lobo guess wrong and take some degree of damage.