She is getting 6.00 point base value for lutz and 5.3 for flip. If she changes this to flip (5.3) and loop (5.1) this is not going to be a advantage. She is losing +1.00 GOE but judges usually not taking away any more points than that.
I was talking about the combo. IF she had done a 3F/3T, base value 9.40 (I think?), with positive GOE (let's say +1.0, since Sotnikova received +1.40 for the easy 3T/3T), her combo would have gotten her 10.40 instead of the 9.90 for wrong edge entry.
You're not allowed to do the same jump twice in the SP (except for a 3T3T; when it's within the same jumping pass), so if she did a 3F3T combo, she'd have to replace her single 3F with something else.
So elif is right, what you're suggesting would be to replace [3Lz3T + 3F] by [3F3T + 3Lo] since the 3Lo is next in line in the value ranking of jumps.
That would be 0.90 points lower without the e call. If she knew for a fact that she'd get an e call for her Lz, then this scenario might be slightly better. BUT she doesn't always get the e call, it's really close most of the time, and the Olympics will be in Russia. (not saying judging is biased, but... judging is biased) So she must have strong hopes that she won't get the e call. (she actually did also get the e call for her F a few times!

)
Also, I don't know how her success rate of the Lo is in comparison to the Lz: She looks like she nails every jump no matter what, but maybe she feels the Lo is a bit more risky than the Lz and F?
That said, I rarely look at the protocols in detail, so I really don't know how they assigned base value of combo jumps, or how they determine GOE. Was just trying to see if Julia could avoid throwing away points she did not have to.
They just add the individual base value of both jumps:
base value for a 3Lz = 6 points
base value for a 3T = 4.10 points
base value for a 3Lz3T = 10.10 points