More never-used 2 HD humanoids, now with horrifying features!
The Locathahs' racial traits are small bonuses to a few of the less-used abilities, a moderately high swim speed, +3 natural armor, the aquatic subtype, and... well would you look at that, no more racial traits.
I'm serious: that's it. The two levels every locathah sacrifices are supposed to be compensated by weak stat boosts and an inability to function on dry land. In no way is this worth it at +0 LA, let alone the +1 it currently has.