USS Detroit, LCS-08 Launched by Austal
LCS (conventional Freedom class, not Independence class above) are much better than a large corvette/light frigate in terms of armament not to mention the trade off where their propulsion and hullform seems to be sacrificing range and endurance for speed.
In terms of cost and capability, there are a few East Asian navies with more capable frigates that are both cheaper and feature heavier armament (such as the FFX Incheon class or JIang Kai 1 - i.e. 054A).
There are some unique capabilities that LCS can offer other than speed (which isn't really that useful in most situations) -- such as a large helipad, MCM and UAV capability -- however one has to wonder what they have sacrificed in order to achieve everything in the hull design they ended up with. Not even any Mk-41 VLS or even true AShM. These are features that are crucial in an Asian naval combat scenario. Which is why FFX and 054A has them.
A reduced crew isn't necessarily a good thing for Asian Navies (unlike Western Navies) because automation can only do so much during a real naval combat scenario. All hands on deck needs all hands on deck.
Now onto the development of another US scenario.
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Realizing these LCS shortcomings - the US now has turned into damage control mode and changes the stakes once again 
It has re-named the last few funded LCS ships into another class altogether, the 'Small Surface Combatant'.
A plan has been started to replace the last 28-32 planned LCS vessels with a more capable, more heavily armed, multi-role guided missile frigate vessel.
Likely contenders are,
1) Lockheed Martin offering an up-gunned and upgraded, slightly larger Freedom Class LCS design
2) General Dynamics/Austal offering an up-gunned & upgraded, slightly larger Independence Class LCS design
3) Huntington Ingalls offering their Naval Patrol Frigate version of the Coast Guard National Defense Cutter.
The Huntington Ingalls design is a personal favorite because the design is straight forward and more economical than other options, yet effective. Just add a standard USN weapons fit to the Legend Class Cutter (The new National Security Cutter in the USCG that replaced the Somudro Joy/Avijan class) hull, the appropriate sensors and voila, new SSC!
Here's the proposed new Huntington Ingalls FF4921 Patrol Frigate and the design is entirely buildable locally in Bangladesh. Only the weapons fit is a question mark - like everywhere else on the subcontinent.
76 mm gun, eight ASMs in two quad launchers, an eight cell Mk141 VLS with 32 ESSMs, torpedo tube, and two ASW helos. Built on proven US Coast Guard NSC hull. Nice design. Now change the rough weapons-fit to a Chinese suite and you have a winner cost-wise too. You guys jump in with Chinese equivalents.
The sales pitch from Lockheed Martin for an enlarged and up-gunned LCS Freedom class
The thing that is striking me about the newer ships is the modularity and drop-in changeability of various weapons fits as seen in the 1st and 2nd videos above. As well as the low Radar Signature of the sloping front profile in the variously sized Freedom-class LCS vessels.
What do you guys think? Is it important for our naval scenario in South Asia? Or for export?
Mission modules shown
CODAD or CODAG WARP propulsion with reduced-heat signature above-waterline exhausts
Optional low-RCS wave-piercing bow. Up to 32 VLS and 127mm gun forward
A video about the FREMM vessel Normandie
Bring the Admiral Gorshkov-class frigate baby.........................
just kidding 
