The landing of Atom right at the start of the episode...
It draws from Superman's landing on the growing island of "New Krypton" in the movie Superman Returns. He lands hard and the ground underneath him cracks.
Same thing happens when Ray lands at Star Labs.
As for him being "Iron Man lite", yes, yes he is.
The story I've heard is that on Arrow they'd intended him to be Ted Kord and the suit would have made him the Blue Beetle...
Then someone at Time Warner said "You can't have Kord/Beetle".
So, the show-runners switched the character to the Atom, which really doesn't fit at all, unless they get him to the point where he can shrink. Once he's doing that, I can forgive the "Iron Man" stuff.
Besides, Ray being able to actually fly and not just leap (because of mass and weight control) is pretty neat.
was that billionare line a reference to bats, as Atom line was to Supes?
And ray needs to water proof his suit, and to get it to micro shrink!