That seems fair, and actualy logical from the persective that `god` is above all and with that has his own introductionary terms of reference. That said the English language has many logical traps and pitfalls with its exceptions to rules. You can even say religion defies logic in many ways. So to have a logical reference to religion via `lord` not only makes logical sense, in a language with logical exceptions in reference to a subject with logical exceptions. Guess two negatives do make a positive. That all said "praise be" still seems odd as no reference towards what is praised is indicated.

But I do love the thy, thee,thine olde English, has period character and if you use those terms, or indeed any term that is out of fashion in todays evolving languages. Well you either seem educated or odd by others in general. Though word racisim comes in many forms.