Yeah, I think that's why LOB is a stat that never really caught on. It is a very contextual stat that is tough to look at on its own a draw a good conclusion. Low LOB could mean the opposing pitcher just shut you down or you happened to go yard a few times with 2 outs in innings (ending the inning with no one on base).
I only find it useful when scorekeeping to make sure I'm accounting for every batter correctly. Every single guy has three outcomes: run, out, or LOB
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