^ That is the caveat with investors, as they can help provide a bit of extra stability but depending on what they're like, the demands can change the course of things to something that doesn't end up fitting with the ethos of the brand. Which I think is something Lutz holds very dear to himself. It is a very personal kind of operation, but it's still the kind of personal that doesn't take itself too seriously and has that very (as you say) raw whimsy to it. It's playful and charismatic to a level where the collections are a bit enigmatic.
He has the technical chops (can cut a mean Margiela-esque shoulder), and really is a rare contemporary that has lasted longer and through things that others haven't been able to survive. It is somewhat timeless, and also a bit gawky at the same time which is admirable compared to all the other trend based stuff that is constantly forced onto our eyes. Wouldn't say it is always the best but its always honest, witty and direct. Not many designers have that now, particularly honesty.