The problem with this take on the lasso (personally, I like it-- it's a brilliant idea, and actually terrifying) is that its very depth makes for meta-textual problems.
Judging by this take, the lasso ought to redeem almost every villain who gets hit with it. That opens up possibilities for characterization involving reformation and possible future heroism, but it also shuts down a lot of possible future plots using those villains as villains. There are a few -- for example, the Gentleman Ghost, Circe, Dr. Psycho, the Joker -- who might get a pass for various reasons, but most villains would become non-viable. Any author who wanted to use those now-redeemed villains as villains wouldn't be able to.
I dislike the comics-status-quo staying the same, but I'm also very leery about potentially stifling authors' ideas like that.