I don't really have any problems with the void lords as a concept, but why are they just called void lords? We already have "void lords" dating back to BC. Did Blizzard seriously not think of that?
IMO they should have been called the "Outer Gods" or something, if following the Lovecraftian theme, as a level beyond the Old Gods aka the Great Old Ones. It would at least give them a name that isn't easily confused with the "other" void lords that we've been seeing. Hell, warlocks can still summon a "void lord" with the glyph.