Paralysis does the exact same thing, and also lowers your Speed by 75%. When you're paralyzed, the match is completely out of your hands as well. I can't count how many times I would have won the match despite the lowered Speed, but I was fully paralyzed several times in a row which lead to my loss. When you're paralyzed, 100% accurate moves now essentially have 75% accuracy. But you don't see anyone nominating stuff like Thunder Wave/Glare/Stun Spore despite Paralysis being one of the haxiest status conditions out there, possibly because people have just accepted that parahax is part of the game, which I certainly believe as well (despite it still being annoying). Yes I'm aware that it'd be impossible to get rid of paralysis completely due to it being a side effect in many moves, but it'd be hard to inflict without those moves (barring Serene Grace).
Ironically enough, stuff like Sand Veil are actually less haxy than Paralysis, because 100% accurate moves only have 75% accuracy compared to Sand Veil's 80%, it doesn't require a certain weather to be up, and Paralysis also makes it so that --% accurate moves will only work 75% of the time as well.
You may think that Sand Veil and stuff raise the Evasion stat, therefore they're just inherently better than Paralysis. However, with Evasion moves, you don't have a set amount of Evasion, because you can keep raising, instead of it always being 20% like Sand Veil and Snow Cloak.
People need to think long and hard about why they would ever feel like getting rid of Sand Veil and Snow Cloak, yet be perfectly content with Paralysis moves, because I'm seeing yet another double standard here. If people can accept that parahax is part of the game, then they should be able to accept that Sand Veil/Snow Cloak hax is part of the game too.