Innate Yiqi is very broad in scope, and it's recognized a panacea. Regardless if you're a body cultivator, spell cultivator, or sword cultivator, you can enhance your skills considerably if you infuse some Innate Yiqi when launching them.
How much it improves depends on the depth of your cultivation. As for Lu Bei, who currently has over 20,000 cultivation points, he could absolutely blow a high-level Innate Realm master to smithereens if he went all out.
When Lu Bei hadn't yet crossed over to this world and was still a player, the introduction of this divine skill rocked the player power rankings. Some unlucky big shots didn't have enough accumulated experience in their inventories to quickly learn this skill. They encountered plenty of player ambushes while traveling at night; faced with the imbalance between their levels and those who killed them, they persistently lost experience and demoted. Their misery was simply pitiful to watch.