I'd for sure rather have Helboy 3.
I know a year or two ago Pearlman said he wished they would do it if they intend to cause he isn't getting any younger. That statement sounds like he knows or is ready for that to be his last stunt heavy type role.
Instead of Lobo I think if DC is going to mine their C-list ranks that a movie with someone like The Question
would be more cost effective AND allow for name dropping crossover style dialogue.
I mean the comparisons have long been made that Lobo is just The Punisher in Space and we see how well the mixed effort Punisher films have done. Pushing Lobo back into a higher position on the slate just doesn't seem the best possible fit.