Lip has always been, more than any of his kids, Frank's clone. Down to the way they dress, carry themselves, and even there ability to pull women with ease as well as there habit to fall dangerously in love with the wrong types of women while rejecting the women who look out for them.
Frank is obviously super smart and had he made better choices theres no telling where he'd be.
Lip is the exact same way. Ill bet at some point before it went bad Frank was exactly like Lip has been during his teenage/early years thus far.
Frank allowed alcohol, drugs, and a fucked up family to take him under. I could see Lip going the same way if he isn't careful.