I think PVE wise there is nothing wrong with Lycus. In PVP however he seems a bit lackluster compared to most of the other raiders.
I think his most glaring issue is that there are too many things that can counter him. Hive and Ginebra's weapons completely bypass his ability. So does Ayana's hook and mines, Alicia's smoking daisy. And these are just of the top of my head, I'm sure there's more.
Another thing that seems odd to me is that Mikah's Barrier gun has a shield that is objectively better than Lycus' ability in most situations. It can block damage from all directions, it can easily shield allies while Mikah can go do something else, it can build a wall of deployable cover, it can contain explosions, it can block the attacks from the floating eyeballs in a breath of hope. And that's not even her main ability. That's JUST her gun. Compare that to Lycus' rare weapon shit happens
All in all though i don't think he's majorly underpowered, but he definitely feels like he's falling behind a bit.
Also can he just get a new gun already?