Lobo is one of those characters that non-comic book fans don't really understand or get. From the DC Universe, Lobo was intended to be a parody of many of Marvel Comics' anti-heroes from the 90s. He basically went around killing other bad guys and causing trouble for other superheroes, mostly Superman. He would just show up on Earth just to kick Superman's ass in some issues.
He even fought Wolverine and lost in the DC/Marvel crossover. He later claimed Professor Charles Xavier paid him to take the fall.
The flash video above is loosely based on a proposed Lobo Animated Series. WB passed on the series. I personally believe this series in in continuity with the rest of DCAU. While Brad Garrett voiced the character in Superman TAS and Justice League, Kevin Michael Richardson did the voice for the web-episodes.
Steven E. Gordon did the character designs, and you can check them out here. They're very interesting when compared to other shows, I really like the style. Dare I say Disney-like from the 80s.
The flash animation is a little crude and a bit dated, but it is an interesting look back at flash animation back in 1999/2000.