They are, but most of them don't require you to stand still for the said duration.
Also, most buff have a 60sec CD which aligns with other buff. Ley Line doesn't.
I'd rather have it on a 60sec cd with a shorter duration.
Regarding FireI, it's more of a visual issue than a gameplay one.
Personally I still think it is.
LightSpeed doesn't increase your dps, it makes you save mana and allow higher mobility.
Now you can either use it on CD and save most of your mana on MaleficIII or keep it for an heavy AoE phase and cut in half your spending on Helios
If you do it while you're spamming MaleficIII (like most of the time), you'll save up to 1500mana. Which is the mana you'd save from casting 2 AoE heal.
Prior to 4.3, LightSpeed had 150s cd, so you could reduce its cd by up to 30sec by casting essential dignity on cd. Dropping it to 120s the baseline cd for 4.3
With a baseline cd of 120 you can proc your trait at most twice. So Lightspeed will end up with a 100sec cd.
Now, I'm not saying Lightspeed is a bad cd in 4.3, far from that. But unlike SCH with the Etherflow cd reduction trait, we don't especially need to have Lightspeed always on cd. It's not a Draw, it's not Sleeve, it's a mp management cd. So to get the most out it, it must be used at the right time.
Using both Lightspeed and Essential Dignity on CD is hardly a good thing unless you master the encounter to the point these skill become irrelevant.
Therefor, anyone on progression keeping their cd for utilitary purpose will have a very small benefit of this trait.
So this is why I think this trait is plain bad
15sec on Eatherflow is good, it's the bread and butter of SCH most powerful skills
Lilies don't require CD to proc and affect plenty of skills (I'm not saying the really good, just that it's not entirely useless)
20sec on a mana saver if you spam one of your few abilities is plain bad. The problem isn't that we can reduce lightspeed cd, it's the way we achieve this. Lilies has the same issue, it's not like lilies are totally bad, it's that the way you get them isn't especially good.