I'm probably forgetting something but I can only think of Noct, Karma, Morgana that have tethers beside's lb. It's not a lot to compare against, especially when you consider the extra effects of the tethers those three have. In fact, the tether range on Karma is the same, and for Morgana it's actually higher. Initial range, LB wins, but at least the tether isn't much of a difference. 950 range/1000 tether is a very small space to have to move to escape it (assuming you get hit somewhere near the max range, which is what I'm assuming happened and led you to be frustrated with it), whereas with Morg/Karma if you get hit, it takes another 300~ units minimum before you break free.
Edit: the big advantage LB has is the freedom to dash toward the player she chains, making it vastly harder to escape.