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It doesn't matter if a pokemon is too weak for OU play. All that matters is whether or not its too strong for UU.
That said, I personally do believe Pikachu is fine in UU.
Assuming a max IV, Absol can outspeed Alakazam and friends with a Choice Scarf if you give it Adamant, and then it should actually have enough attack to do some decent damage without a critical hit. The only problem is you have to watch out for Weavile.
The problem with saying "it's standard or it's not" is that some people enjoy having NU teams. It's not a big deal, but it's worth remembering.
I like BL's existance regardless. I prefer to make UU teams with one BorderLine or something. That tier just lets you know what pokemon aren't quite...