I have low SHBG - it was 12 in my last bloodwork - and that is pretty much where it's been for the previous ten years, but I have no trace of metabolic syndrome, and I am not diabetic or pre-diabetic.
With low SHBG, I do not "feel" my TRT at all. On TRT and with good blood numbers for free T, total T, and E2, I still have low libido, and can't build any muscle or lose any fat. It is like being "low T" even while on TRT. Oh, and guys that think low SHBG is "better" and builds more muscle need to walk a mile in the shoes of someone with low SHBG. We would not wish it on our worst enemies.
The only reason I am still on TRT is that I know it's healthier long-term to have normal T vs. low T.