Yes! Great Idea!
No! He'll mess it up!
Not sure / will wait for more info
The things wrong with Spider-man 3 are more the fault of the studio than Sam.
Before anybody says anything, I personally loved the dancing. that was a geek who had never been cool in his life trying to act like what he thought a cool person should be. It was perfect.
Bay is awful, even at the violence and action he supposedly specializes in. I don't want him on anything, not even a simple action flick.
Raimi has a solid track record as an excellent director. Even Spider-Man 3, his worst work, is only meh rather than actually bad. And I think most of the meh is the studio's fault. They wanted to cram too much into one movie, likely to sell toys.
Have not read much of Lobo but Bay directing a Lobo movie could be interesting.
Robert Rodriguez or the guy who directed Dredd would've been better choices. Still not too late WB.
Raimi would be cool but only if it's Evil Dead/Darkman Raimi. Over-the-top mayhem.
Lobo is a dark/comedy kind of character that gets his kicks from all out brawls that often leave piles of bodies. Kind of what Inglorious Bastards did in that sense. In that sense, I don't want Bay within 100 miles of Lobo.
"But explosions!"
In what one of Lobo's more notable comics, he's sent to kill evil Santa. And he does it without blowing up half the North Pole (granted, that is a bit low caliber for him, but still). Bay would blow up half the galaxy before Lobo even comes on screen.
On a different note; too bad Jason Mamoa is already Aquaman. He would have been about the perfect fit for Lobo. In looks, size, and sense of humor.