We made a lot of suggested interim improvements to the site and story side last year that everyone wanted. Chat has been the poor cousin for a long time now, using code that is well over 10 years old and plagued with disconnection issues. While we've had someone working on it, we've also been focusing on the next major site update. As part of the BETA chat feedback, we kept receiving comments that private messages (PMs) weren't prominent enough. So, to make room for a separate notification on the toolbar on mobile, we had to reduce the space taken by the logo. "Lush" looked better than "LS," so we went with that. Unfortunately, it ended up being applied across the whole site by accident, instead of just in the mobile chat interface.
I understand that the parts of the site that people use most are always the most important to them, and they will be the most vocal about them. The next significant update is the feed overhaul. It's still months away but will be the most extensive ongoing update since Lush V2. It will make it easier to see more of whatever you're here for, whether it's stories, following authors, making new friends, or browsing the millions of pictures the site has.