My understanding is that Vikavolt at least performed decently at its intended role. Said role however is an extremely specific "ground-immune Electroweb user for a Doubles format that does not allow Rotom."
Sadly Vikavolt belongs to that section of Pokemon that is optimized for Trick Room usage. That is a very specific niche, due to requiring to basically play 3v4 (TR setters are basically always passive and can really just provide utility after setting TR) AND put you on a timer, thus the abusers have to be REALLY busted in order to make it worth, see Ursaluna this gen.
On practical level, Vikavolt came out in a generation where Snorlax existed, and had another very strong competitor in A-marowak which also hardcountered it. And obviously Incineroar also came out that generation...
Basically, not only it was not busted enough to justify using, but also had fierce competition and a hostile environment to deal with. But his issues weren't due to being a bug type (well, I guess being weak to fire and rock didn't exactly help), but rather the environment it came out in.
On a positive note, it was pretty fun to work with in the battle tree back then.