Lugia is simply a collectible card. Something you throw in your binder and try to keep in good condition. The artwork on the shiny version is pretty nice and cool to look at it. The shiny Pokemon have always been fun to catch in the games and its nice to see them printed in card form. I would rather grab a prime, level x, or legend card, but the shiny legends are fun too.
Playability wise, there isn't much here. For a water energy and a double colorless, you can bench snipe. Crobat Prime, Honchkrow G, and a handful of other cards can do roughly the same thing for much less energy. For three water energies and a double colorless you do 80 damage to the defending Pokemon. That cost is insane - especially considering Donphan, Jumpluff, and many other cards can come close to matching it at 60 for just a single energy. With an expert belt, you're doing the same damage. 80 from Lugia isn't worth it considering how much time you spend trying to draw and attach the correct number of energies.
For playability, I give Lugia a 3.5/10.
For collectors, I give Lugia a 7.5/10