I compare Organizer to Lr because of
- it uses a catalog/database to store things in
- images have to be imported in order for Lr to "see" them
- images can be deleted from the Lr catalog and still be left sitting on the hard disk
- and lastly, you can have multiple catalogs - something I would never do, but puts it IMO into the Organizer like pile of things.
All that said, I never lost files in Organizer or Lr for that matter and wouldny be without Lr now.
I throw Bridge into the mix, because most people who hated the Organizer also hate Bridge. For me, Bridge is distinctly different because it is a file browser - navigate to a directory where there is stuff, and it will show you what is there.
Aside from that, one other feature of Lr that I have come to love dearly is the Snapshot feature available in the Develop module. It doesn't save the "recipe" I used to create an image, but it saves the result. I frequently play with an image, wind up with one and go - Like That - and save it via a Snapshot. Then I go on and try a few more tweaks or a completely different interpretation and I can save that also and go back and forth from one to the other.
And even if you don't use RAW, it is a great thing to use anyway - the major downside is that the White Balance tool settings are restricted. I usually either like an image from my RAW shot, and if not, the first thing I try is to go thru the various WB settings - Daylight, Cloudy, Shade, etc. and see what pops up.
But given the cost ($299 USD) unless you get lucky enough to get a sale, it is kind of expensive and requires a lot of volume to make it worthwhile. Or Not - for you toy junkies out there - and that included me!