I don't mind if she can go to more than one lane. I do have a problem when her supporting abilities are nerfed without compensation because she was oppressive in another lane, in which her abilities in that other lane is left unchanged. And I definitely do have a problem when sheep all call me a "freelo abuser" when in reality Lulu mid/top =/= Lulu support in terms of gameplay.
Since someone else explained the reasoning behind the Lulu mid/top craze, I'll just leave it as that:
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Pretty much the opposite has happened. People started playing Lulu mid a long time ago because Riot thought that supports would do better if they had scaling Utility. But that didn't encourage support to build AP. they couldn't with the gold they have.
Rather, they take said champion mid lane were they can actually scale said utility using solo lane farm. Which Riot decided was a healthy trade off, since The utility and supportive aspects replace the High damage presence a burst mage or assassin might have.
Don't forget that Lulu any lane needs items to stay useful. Support? Better build some off-tank stuff or else she's going to be gone in a flash. Mid/top? Better build some AP or else it's pointless staying squishy. "Meta" supports are not like that, they can literally run 0 items and stay just as useful.
Like MF ADC, Lulu support is pretty much outclassed, and hardly has a place there because of meta shifts. A little buff towards Lulu support wouldn't hurt, a little nerf to her solo laning wouldn't hurt as much either so it's not as oppressive to go against.
In fact, I would love to see more traditional supports taken into solo lanes; I just don't want poor Lulu to be the only fell victim. Her being the ONLY one (Kench doesn't count since he's created AFTER the tank botlane shift) only tells me that Riot is obviously playing favoritism like how they did to Thresh/Lee Sin/etc. Don't get me wrong here, it's not at all bad idea, but I just wanted more variety among champ pools.