That...that makes so much sense. Superman letting Luthor be obsessed with him as a focus to minimize the harm he might otherwise do to humanity.
And you know, I've never seen this mentioned about what John Byrne did to Luthor--which was to turn him into the Kingpin, only lazier, let's just say it--which is this: what Byrne did was remove the only things tragic or human in the character. There is no value in Byrnethor whatsoever, no sense that if only he could surpass his flaws, he might be great. No real parallel with Superman instead of envy for his powers and hatred that someone in Metropolis is better-liked. Which, by the way, makes him so much smaller.
Bynethor is just a petty, rich asswipe. And very two-dimensional. And an unworthy archvillain for Superman. So I'm glad that Geoff Johns brought back(seems to have anyway) this Luthor, because there's more interesting stuff going on with him.