I think bcoy is absolutely correct. The LSVs are certainly
faster, lighter and more capable than the other soft-skinned
vehicles they replace. They are 21st Century jeeps. I think that if
they had simply released the LSV with a version that had no
weapons, people would have understood what it was ("infantry
support vehicle", "fast armed transport" ) and there would have
been no complaints. But because they only released armed versions,
people immediately think "fighting vehicle" or even "tank".
Don't forget that Guardmen also fight dismounted. If the situation
is not right for the LSV, they can leave it someplace, pick up
their personal weapons and fight as infantry. The LSVs are not
tanks and Guardsmen are not tankees. Even if the LSV were
completely unarmed they would be useful, simply to give the
dismounted guardsment more mobility and allow them to carry more
supplies and ammunition.
As for speed not being a form of protection, the LSVs use their
mobility to choose the battleground and to choose the enemy. As
long as the LSV is not forced into battle, it can always fight in
ground that favors itself and with enemies that cannot strike it
back. For example, it can sit on a hill and tear up infantry with
the GPMG from 800m away where they cannot shoot back. If the
infantry manages to get closer, the LSV just escapes behind the
hill. Or it can pop a Spike into a tank at 2-3 km range. By the
time the tanks locate the little dot on the horizon and lay their
guns on its position, the LSV is gone. The LSV will probably seek
to bully infantry and play hit and run with armor, playing to all
its strengths and their weaknesses.
The problem is that this all hinges on the LSV having the
initiative and good intel. The LSV will die instantly in an ambush
(but so will anything else, even an Abrams MBT). The LSV will die
instantly if it is engaged at close range by an unexpected foe. If
the LSV is forced to fight defensively, it will also die since it
cannot hold ground (hence the "strike" part of the name). So the
Guardsmen have to be really on the ball and "ready to
strike".
Could the LSV be improved? The current LSV design is a compromise
that takes into account many factors like available RSAF airlift
capacity, technology and cost. I think it is a nearly optimal
design given the current situation, though the situation can
change. For example, if the RSAF had more heavy lift helicopters,
we could field a heavier LSV with armor. But it might be less
mobile and consume more fuel 
So it is hard to say.
So count me as a supporter of the LSV. 
