My initial impression of Swamp in this patch is that he's definitely better, but that we'll need some time to max out his new buffs so I'm not sure yet if he'll be just good or really good.
I like his anti-zoning game quite a bit better in some matchups. It's already helpful that Deadshot is a bit worse. On top of that, BF3 hold going under projectiles so much more easily is really helpful. Against Dr Fate at full screen, one BF3 hold now gets you into the range where you can duck BF1, and against other zoners the margin of error is way better to get under stuff. Faster startup & less recovery make log kick a bit better in slow spacing matchups too.
His pressure is better too, although how much remains to be seen imo. Safe & faster log kick makes the overhead/low game more credible & doesn't give up the corner like F21. F233 and B223 linking to F2 more easily is a big deal for consistent damage output while being able to save meter for other stuff. With armor, meaty DB2 beats wakeups, is safe on block, is hit confirmable by itself into meterburn for damage, and helps continue pressure on block by meterburning for plus frames like an armored Scarecrow reppuken. Armored st3 at range, especially when you have the corner, can keep the opponent pinned well.
His midrange game is also better, although again I don't know how much. Armored standing 3 gives his footsies even more strength, and armored DB2 gives him a very good antiair. F23 xx trait is safe at max range vs everything but some supers, so you should be able to get armor out in neutral at least some of the time.
But there's a lot of work to be done on how to use the new trait. I know y'all did some work on combos that end in or include trait activation, but that needs to be more of a priority now than before. We also have to get used to actually canceling the trait to get it back sooner if it seems like we won't be able to use it at the time. Will there be any value in looking for hail mary armored vine grab from far away anymore, or should trait only be used for pressure? Or will there be any value in pressuring with something that goes away instantly on hit (and isn't as strong as like mechanical bats etc)? Gonna take some time to figure that stuff out.
At a minimum I think he's better, but if we find really good trait setups and pressure sequences, I think he could be really good!