The lip served two primary purposes--when tables were automatic changes, meaning one record fell on top of another to play the second, third, etc. record, the lip prevented the playing surfaces from rubbing against each other. The second purpose was to strengthen the record by reinforcing the most delicate and exposed part of the record.
I have quite a few audiophile pressings that don't have a lip, and they date back a long time. There is indeed a new pressing machine being put on the market, but, I don't think it necessarily relates to beadles records.