It does form part of my thunder (or even the other two movesets) Kyogre roster and its very good at that.
After Kyogre leaves though... yeah, there's nothing. For gyms, you can't hit dragons and garys with it, and it is pitifully slow at taking down blissey (assuming you're using earthquake), it might be even worse than Ttar.
Will be MVP should raikou decide to return though.