Palkia Query

It doesn't have a water type fast move, so its not an elite water attacker, nowhere close to kyogre. Palkia double resists fire, so neutral damage won't be much different, especially with draco meteor, which has great neutral coverage.

It has incredible tankiness against fire moves, but the DPS is lower than Gyarados. Pretty good water pokemon even without a fast move, but there are better options.
I would rather have Palkia with double dragon moves, but I would also not invest any resources, including TMs, until Palkia is gone from raids. Unless you already got a 100% I guess.