Lugia is capable of outstalling even Zekrom in Ubers with a set of Reflect / Roost / Ice Beam / Whirlwind or Dragon Tail. Do you really want that kind of bulk in OU? To whoever said MultiScale is useless with rocks, lol. Lugia has the speed to just keep reactivating it with Recover, and Dragonite seems to get along just fine, too. Lugia will literally make the metagame consist of Tyranitar, because without the high-powered Thunders and Ice Beams of Ubers, you are not cracking Lugia with any other pokemon (and even CBTar can be outstalled lol).
Please can we stop discussing Ho-Oh? It is by no means manageable this gen as it got several boosts (Nitro Charge, Regeneration, a fighting-centric metagame, etc).
The nature of a very offensive metagame somewhat lends itself to the introduction of more defensive pokemon. We *should* be more open to keeping up diversity, and minimalising bans. Banning in and of itself is quite an extreme action.
Ho-oH is monsterous with 130 at Sacred fire. However, rain is very popular currently. Lugia is also a monsterous stat up booster, however again there are plenty of pokemon that take a massive chunk out of its hp. Furthermore, in terms of strategy balance, walling is vastly inferior to offense in gen V. I wouldn't mind seeing a few more defensive ubers have a test.
Simple theorymoning, or showing how some "ubers" cannot be beaten in 1v1 situations, does nothing at all to prove a suspect as being broken. Admittadly perhaps, both legendaries are of high relative power, but flying, fire and physics are honestly some of the worst typings in OU currently. Overall, I'd like to be a bit more open minded about what can and can't be tested.
Rain is currently popular because it isn't banned with SwSw yet. Once it is, I doubt it will remain up there. Not to mention that Brave Bird is one of the most broken things about Ho-Oh, as it demolishes would-be checks.
Flying and Psychic have gotten a big boost this gen what with the fighting-type running rampant. Flying has always been a great offensive type regardless as the few things that resist is are weak to fighting or ground. The metagame is simply not equipped to handle either of these two threats, and here's why.
Ho-Oh: "Checked" by water types, rock types, and electric types. There are VERY few water pokemon in OU that would be willing to take a STAB Brave Bird to the face; even Kyogre is reluctant as it is 2HKOd (and it has equivalent physical bulk to Swampert). Let's not forget that the prevalence of Nattorei, Birijion, and the actual existence of the the grass type is nothing more than a boon to Ho-Oh and a nerf to water-types. Rock pokemon are nowhere to be seen because they are weak to the most common types in the game, and are slow. The only one is Tyranitar, who fears a Sacred Fire burn on the switch and who is easily destroyed by LO Earthquake if it lacks a Scarf (which is tough to run this gen). Electric types, lol. They are rarely bulky enough to take a hit, and even Zapdos is 2HKOd by Adamant LO Sacred Fire. Face it, Ho-Oh is basically an extremely hard-hitting pokemon (hits harder than Jolly Garchomp's Outrage without the lock) with Swampert-like bulk on the physical side and Lugia-esque bulk on the special side. No.
Lugia: Lugia does not die. Ever. The standard set of Reflect / Roost / Dragon Tail / Ice Beam will revive full stall on its own, requiring nothing more than a few hazards to sweep your team while maintaining pristine health. Behind a Reflect, Zekrom and Groudon struggle to beat it, what makes you think Tyranitar will have it any better? That is literally its only OU check, as all the others are either unviable (Cradily in OU, really?) or simply can't do it. And before you bring up the "adapt to the pokemon around" argument, remember that it only applies when those pokemon can function outside of that specific niche.