See ya, Palafin and Iron Bundle.
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These two just got a whole lot better.
Let's start with Chi-Yu. With Iron Bundle and Palafin around, most Chi-Yu had to run Scarf and Tera Water/Grass. Even then, both had their ways around Scarf Chi-Yu - Jet Punch always does a lot, even resisted, and speed boosting IB with Scarf or Agility was easy enough for some teams. The hazard vulnerability was also a huge problem in a hazard-centric metagame. Scarf Chi-Yu will still have a place with its insane power and good speed, but now it can more comfortably run Specs and HDB sets with offensive Tera types. I've seen the latter with Taunt + 3 attacks or dual STAB + NP recently, and it can just demolish unprepared slower teams. Chi-Yu is one to watch.
Chien-Pao faced a lot of opportunity cost with IB in the tier, as IB outspeeds it and achieves neutral coverage with its STABs, which are coming off the special side in a mostly physical metagame. Palafin was less of an issue for Chien-Pao, but the dolphin was a decent check at full or if it got up a BU or two. With these two gone, however, Chien-Pao stands as the fastest unboosted Pokemon in the tier aside from Dragapult with a bunch of great options to back up its admittedly weak STABs in Sacred Sword, Taunt, and SD. I don't really think we have seen all this Pokemon can do yet, so I am excited to see how it develops without IB/Palafin.
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Next, there are four walls (and several others) that really suffered at the hands of Palafin and/or Iron Bundle. Clodsire is now much more flexible in that it is no longer as pressured to run Water Absorb with a defensive Tera Type. I think Unaware is handily the better set now, which bodes well in a tier full of threatening sweepers. Dondozo usage was already on the rise, but it should continue to do so with the recent bans as Palafin and IB both beat most variants of Dondozo one on one. Clodsire + Dondozo seems like a very threatening Unaware combo right now. With both IB and Palafin running Taunt most of the time, Toxapex and Corviknight often struggled to stay healthy enough to maintain their status as checks. While these two and Clodsire + Dondozo still have to look out for threats like Chi-Yu/Chien-Pao and the looming Annihilape, I think all four got better with the Palafin/IB ban.
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Choice Scarf Gholdengo stocks plummet as Air Balloon lifts the controversial cheese stick man off the ground. Scarf is still good, but one of its primary objectives was to force out IB and maybe tank an ice attack or two. Palafin was also very oppressive for Gholdengo in general as it could easily tank an attack or two and KO it with Jet Punch with some prior damage. With these two gone, I am wondering if Gholdengo will be able make use of more defensive sets thanks to its great typing and strong movepool. These sets could even serve as a wincon in some cases with Recover + NP + status immunity. There are several potential stopping points for Gholdengo though as we are likely to see the usage of the aforementioned Chi-Yu and Chien-Pag rise in addition to the already rising usage of bulky Garchomp/Great Tusk/Iron Treads.
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Most generations start off pretty offensive, and rain as a playstyle usually fits right into that, but that hasn't necessarily been the case this generation. IB typically ran Tera Water, allowing it to easily tank a hit from Barraskewda and KO back with Freeze Dry. Rain powered up Palafin's Jet Punch to even more astronomical levels. The best rain teams I have seen thus far actually utilized IB and Palafin themselves, but it still came down to whether the rain player could outplay the opposing Palafin/IB. Given how offensive the metagame is at the moment, I expect we will start to see even more rain teams, especially those featuring Barraskewda.
Everything Else
I honestly can't think of much that loses out with these bans. Maybe something like Meowscarada or certain Tera forms of Garganacl? Even then, Palafin and Iron Bundle were such oppressive forces in the metagame that I think virtually everything appreciates their bans. I also agree with the sentiment that most of the egregious problems have been removed from the metagame, and that the remaining potential bans (Annilihape) hinge somewhat on a decision on Terastallization. I am looking forward to the PR thread and the resulting discussion.