I think the LCS concept is the result of buzzword bingo!
What are its key features:
- network centricity
- COTS - Commercial off the Shelf : both LCS designs are based on foreign commercial ferry designs (LM is italian, GD australian)
- outsourcing: they basically bypassed the traditional shipping industry
- modularity: why make it simple when you can make it complicated?
- innovation: a new solution for an old well known problem
IMHO the best thing would be to implement certain ideas from LCS like waterjet propulsion or UAV/UUV integration into a single mission ship designed to military standards by military shipyards.
And give it a decent armament, for christ's sake...