If you believe the rumors FNSM has already been scrapped because they let go of their storyboarders before they could start making the second season...
If things started up now, I imagine Lex would actually have powers of some sort so he could be a challenge to Supes in a fight.(probably through some...
I guess that is where we differ. I didn't think they were much like the comic stories outside using similar characters in a framework, but even that...