Would Kyogre with blizzard a good counter for double dragon Rayquaza?

Where did i see something like this here before? Answer is no.

Unfortunately, waterfall dealing NVE damage to Ray Ray is the primary reason why Kyogre won't make for a good counter. Waterfall is slow and has low energy gain, resulting in it taking a long time to fire off Blizzard, which would be the only thing dealing substantial damage.

Absolutely

Kyogre with Waterfall Blizzard actually does 75% of the maximum DPS to Rayquaza. The baseline 100% being Frost Breath Avalanche Jynx:

Some other useful numbers:
Rayquaza DT/OR 93%
Salamence DT/DM 90%
Dragonite DT/OR 86%
Cloyster FB/AV 83%
Articuno FB/IB or Blizz 79%
Piloswine PS/AV 78%

This ties/barely beats Walrein (!) at 75% and Lapras (68%) by a considerable margin.

BUT: of course:

The numbers above are with regard to an infinite battle length. If Rayquaza kills you 1s before you fire a Blizzard, then you've been spending the last tickling Rayquaza with your waterfalls doing miniscule damage, whereas the Walrein would be doing some meaningful damage with frost breaths. There will be huge variance of battle length.

You also need to take account the level. Unless your Kyogre is already 35+, I don't see it being any better than wild weather boosted versions of the ice mons.