Why is Scizor's predicted multiplier so bad? It looks like it's going to be the Alakazam of Gen 2.

In the base Pokemon games, Scizor and Scyther have the exact same stat total. The difference is that Scizor is now Steel instead of Flying and that it trades speed for Attack and Defense. This is why in Pokemon Go his CP will be only slighty higher than Scyther's (Since the speed stat barely makes a difference).

He's definitely not going to be anywhere near as bad as Alakazam. The current Scyther is already FAR better than Alakazam, and Scizor should be much better still (assuming they give him good moves), if for no other reason the Bug+Steel typing combo is insanely powerful... it resists damage from most of the types in the game, and literally only Fire is super effective over it (although it's doubly super effective against both types).