Can I use lunge (Fighter Feat) three times in one round? Does it basically just give 10 foot reach on demand?

[Lyoto Machida]

Here's the exact wording for Lunge copy-pasted from AON.

PFS Legal Lunge Single Action Feat 2
Fighter
Source Core Rulebook pg. 146
Requirements You are wielding a melee weapon.
Extending your body to its limits, you attack an enemy that would normally be beyond your reach. Make a Strike with a melee weapon, increasing your reach by 5 feet for that Strike. If the weapon has the disarm, shove, or trip trait, you can use the corresponding action instead of a Strike.

My interpretation is that I since the lunge comes with a strike baked into it, I can use lunge to basically decide If I want to hit them from 10 feet away or five feet away. But that seems really powerful with no drawback, so I wanted to check if I had missed something.

[Blave]

Yes you can.

The drawback is being unable to use any other special strikes like Presses since you're out of range for those.

[T'Challa]

Also, since it's an action to lunge and strike, you won't get it's benefit on a reaction like the fighter's AoO.

[Blave]

T'Challa wrote:

Also, since it's an action to lunge and strike, you won't get it's benefit on a reaction like the fighter's AoO.

Unless you use the 12th level stance Lunging Stance, of course.