Fast lob is tricky, generally the idea with the lobs in padel is to get to the net, so you need time, which a slow and deep lob gives you exactly. So generally, you don't want to play lobs with too much speed or effect.
However, there's one type of situation in my experience, where playing a faster lob with some wrist is okay. That's when both teams are at the net and you get a weaker chiquita almost behind you and you want to hit the lob with a bit of force and some wrist action to maintain the net. This is an extremely difficult shot though and most times even at intermediate level you'll either end up with the ball in the glass or allow your opponent to have an easy smash.
So generally i'd stay away from fast lobs and instead focus on depth, slow doesn't mean bad in padel usually.
The idea of a fast lob is to take advantage of opponents that are close to the net. Or when they play a soft volley and you are already moving forward. The intention behind the fast lob is to clear the opponent, so you should have time to move forward. This can be done when you play a chiquita, moving forward, having put them at the net.
Agree with you that it's an advanced shot though, and that means the when it doesn't clear the opponent you can get into trouble. But all lobs, including the fast one, should give you time to move forward.