So I just read the current suspect nominations so far and I'm absolutely disgusted from what I see.
Volcarona? Excadrill? Deoxys-S? Baton Pass? What the hell are you people talking about?
You realize that you can't have a perfect counter for everything in a team made of 6 pokemon, right?
Anyway, guess who checks all of those threats at once? Yes, Lugia.
I still see it as a very healthy addition to the tier.
Before massive flaming from the usual people, consider this: there are lots of "unban Garchomp" posts, who is far more threatening than Lugia even without Sandstorm and doesn't really add anything new to the OU tier. If Garchomp is allowed back to OU, then Lugia is going to be even more useful to the OU metagame.
You basically answered your own post.