The scar will definitely improve cosmetically over the next several weeks and months. I wouldn't worry that the current appearance will be the final cosmetic result. While the upper portion of the skin (epidermis) will heal in a week or two (no scab left), the portion of the scar in the deeper skin (dermis) takes 6-8 weeks to heal, and even then will continue to improve cosmetically for 6 months to 1 year.
The lump that you feel is normal. One of the principles of cosmetic reconstruction is to suture the skin so that it is everted (poking out rather than flat or inward) for the first few weeks; this gives the best cosmetic result as the scar matures. It will likely persist for another 4-6 weeks, then begin to smooth out and flatten out as the scar matures (after 6-8 weeks from the time of injury). Occasionally, the lump will still be present at 2-3 months. If this happens, see your skin care physician to discuss options for improvement. Usually a small injection will help the area flatten out.
I think you will like the result much more in 1 month. And save your money on "scar therapies" for sale. Silicone sheeting is the only proven product to aid in the appearance of scars.