He doesnt need hyperarmor. He needs better chain options (more combos of light and heavy), and an opener to initiate his chians. His chain pressure is actually decent but he has no real way to get to it reliably and safely.
Hyper armor doesnt do anything to fix that. It just makes the stronger part of his pressure even stronger. Nothing for his actual weaknesses.
Yes, his opener is the weak one, staying far away to make his light opener whiff basically nullifies everything he can do from neutral, since you can safely light him on red. He must throw a heavy attack to start his offense, which is extremely unsafe. Or he must get a parry, which usually leads to him having extreme health lead. What he probably needs is either a light-light-heavy chain, a 500ms bash, the ability to shove after light, or some sort of easily accessible unblockable (like a spike by back+heavy, similar to Gladiator's skewer). In 4s, what he needs is a dodge forward heavy, you can easily space him out, and heroes who can not chase are thrash there.
He also needs some nerfs though if we buff his offense. It is bs that his shove is not only unpunishable, but he sometimes misses the shove, then recovers in time to safely parry a dodge attack on reaction. His shove is not healthier at all than BP's chain bash, no bash should be unpunishable for dodge attacks (it obviously shouldn't be this slow though). And the spike after parry is probably something that must go, that is an extremely unhealthy thing in ranked duels where it always leads to a heavy+blind (or make the spike guarantee a light only).
The devs should really improve LB's neutral and chain pressure, those are his biggest weaknesses. New attack chains and a 500ms Shove would be welcomed. Plus some kind of easily accessible undodgeable attack (maybe make his zone undodgeable), because he struggles against the Wu Lin.
He should be in the next TG, alongside with Valkyrie and HL, just to name a few.
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