LCSes - provided they're working (hushhush Freedom) - are very serious assets.
Let's talk Independence class:
The ships are underarmed. Hellfires have a ridiculously short range and likewise the gun. The total ASM loadout will end up being about 8 missiles...someday. They also cannot use the mission modules. Still.
The ships lack sufficient sensors for even a frigate.
The ship is horribly under undercrewed. It lacks enough crew to do sufficient maintenance or conduct damage control when the time comes.
Then...the Freedom. omg. dumpster fire on top of the above.
Compare the LCS classes to the Type 053H3. Similar displacements. Only advantages the Independence have is the speed and flight deck size. There are plenty of deficiencies in comparison. The Freedoms don't even have a flight deck advantage, but they might have a speed...if their propulsion system doesn't break down. Oh, wait...