If she is ACTUALLY going to record a full album with the Lips (we still can't really know 100% without definite confirmation from somebody else than just Wayne on a Reddit AMA), then that's probably going to be a polarizing project. I'm here for it either way, because I have loved everything she has made with them so far, but it's probably not going to be pop. Maybe indie sounding or the Lips' trademark "psych pop", if at all.
She's going to lose radio support, and she's going to lose a few fans.
But if it turns out well, then I'm sure she will be gaining acclaim and credibility in return. The Lips aren't that big, but they are an established, respected band, so collaborating with them can only be good for her in that field at least.
We were all so young and naive. 
Can you blame me though with the "when i was broke you bought me shoes" lyric? It sounded lame until the description about it tightroping between alternative and club banger or whatever. I'll repent though cause LG is amazing 