This is ridiculous. Hephaestus was just saying that Wonder Woman doesn't even need the lasso to get the truth, her intimidation is enough. Obviously the lasso still makes the person it touches reveal the truth (over in Justice League it made Hal say something stupid/truthful), but Wonder Woman could just scare it out of them even without it. She is the goddess of bondage, an Amazonian warrior-princess with a golden lasso of truth, invented by the same man who invented the lie detector. She's finally being treated like the mythic figure she is, Olympian God-Tier. She's finally living up to her potential. Clearly Azzarello isn't about to undermine his mythification by taking away one of the central most elements of her myth. If anything he's just showing that her personality is reflected in her lasso and bracelets--which has always been the case. She's been presented as a coaxing hippy-nun for too long. She's the embodiment of mother nature's wrath: of man naked in the face of a hurricane, earthquake, tsunami/flood, volcanic eruption, etc. She humbles her prisoners by threatening humiliation--the humiliation of man's ultimate vulnerability to the world that nurtures them (to fate or even existence itself): Death. Wonder Woman is Truth and Justice, not Truth and Mercy (Pity)--finally someone's getting that.
She's finally being treated like the Grecian Super-Hero she is. Hopefully by the end of this arc she'll be an actual Goddess.