Yes but as
Cabneet said hazards are weaker than ever and the only thing Deoxys-D is remotely capable of is hazards. Once he sets up hazards he is complete deadweight for the rest of the match. Who else does something like that? Ferrothorn. Ferrothorn has Stealth Rock and Spikes. Only thing is that Ferrothorn has S+ tier defensive typing and discourages physical attacks and has Leech Seed, Spore, and Toxic immunities to make him useful after the first three turns in the game. Heavy Duty Boots single-handedly nerfs Deoxys-D; the Pokemon that are truly threatened by hazards will just become completely immune to it.
And Deoxys-Defense's bulk has been completely power creeped. Like:
252+ SpA Aegislash-Blade Shadow Ball vs. 252 HP / 0 SpD Deoxys-Defense: 204-240 (67.1 - 78.9%) -- guaranteed 2HKO after Leftovers recovery
244 SpA Hydreigon Black Hole Eclipse (160 BP) vs. 252 HP / 0 SpD Deoxys-Defense: 338-398 (111.1 - 130.9%) -- guaranteed OHKO
252 Atk Kartana Knock Off (97.5 BP) vs. 252 HP / 104+ Def Deoxys-Defense: 154-182 (50.6 - 59.8%) -- guaranteed 2HKO
252+ Atk Choice Band Tyranitar Crunch vs. 252 HP / 104+ Def Deoxys-Defense: 248-294 (81.5 - 96.7%) -- 62.5% chance to OHKO after Stealth Rock, sandstorm damage, and Leftovers recovery
Its not like Deoxys-Defense will be a valuable wall past setting up spikes and rocks. He cant even switch into shit like Kartana who can use him as set up bait.
Not to even mention that he is literally incapable of harming Zygarde.
OK, these are terrible examples. You're cherry picking calcs here, and you aren't even using actual fully defensive sets either. A banded, adamant TTar using a super effective, STAB move, and it STILL doesn't guarantee an OHKO. That literally isn't even a fully defensed out Deoxys Here's the same calc with full defense:
252+ Atk Choice Band Tyranitar Crunch vs. 252 HP / 252+ Def Deoxys-Defense: 228-270 (75 - 88.8%) -- guaranteed 2HKO after sandstorm damage and Leftovers recovery
That's right, it never OHKOs, and with stealth rocks up:
252+ Atk Choice Band Tyranitar Crunch vs. 252 HP / 252+ Def Deoxys-Defense: 228-270 (75 - 88.8%) -- 12.5% chance to OHKO after Stealth Rock, sandstorm damage, and Leftovers recovery
You still live 7/8 games. That's insane bulk. Here's another one of your calcs being wonky. Black hole eclipse from Hydreigon, super effective, zero special defense investment on the Deoxys(What???), and you call that an example of no bulk?
252 SpA Hydreigon Dark Pulse vs. 252 HP / 252+ SpD Deoxys-Defense: 260-308 (85.5 - 101.3%) -- 6.3% chance to OHKO after Leftovers recovery
Look at that. Deoxys-D almost always lives a STAB super effective Z-move from a strong special attacker. That is absurd. That calc with kartana using knock off? Deoxys-D always lives the second knock off since it's weaker, meaning it can recover stall with pressure, or use it to set up hazards. That's a super effective coverage move from one of the strongest attackers in the tier, yet it can live the 2HKO.
Here's some other, IMO, meaningful examples of what Deoxys D could check.
252 Atk Kartana Leaf Blade vs. 252 HP / 252+ Def Deoxys-Defense: 97-115 (31.9 - 37.8%) -- 0.3% chance to 3HKO after Leftovers recovery
252 Atk Life Orb Excadrill Earthquake vs. 252 HP / 252+ Def Deoxys-Defense: 113-134 (37.1 - 44%) -- 99.8% chance to 3HKO after Leftovers recovery
252+ SpA Life Orb Clefable Moonblast vs. 252 HP / 0 SpD Deoxys-Defense: 121-142 (39.8 - 46.7%) -- guaranteed 3HKO after Leftovers recovery
252 SpA Magearna Fleur Cannon(195 BP) vs. 252 HP / 252+ SpD Deoxys-Defense: 163-193 (53.6 - 63.4%) -- guaranteed 2HKO after Leftovers recovery
252 SpA Choice Specs Greninja Hydro Pump vs. 252 HP / 252+ SpD Deoxys-Defense: 118-139 (38.8 - 45.7%) -- guaranteed 3HKO after Leftovers recovery
252 Atk Pure Power Medicham-Mega Ice Punch vs. 252 HP / 252+ Def Deoxys-Defense: 70-83 (23 - 27.3%) -- 1.3% chance to 4HKO after Stealth Rock and Leftovers recovery
252+ Atk Huge Power Mawile-Mega Play Rough vs. 252 HP / 252+ Def Deoxys-Defense: 144-169 (47.3 - 55.5%) -- 17.6% chance to 2HKO after Leftovers recovery
These are all strong moves, and yeah, some of these switches are risky, like with Kartana or Gren, but Deoxys-D can yum yum up most hits.
I think the most ample comparison would be to compare it to Toxapex. Deoxys-D has 8 more defense, 18 more special defense, 55 more speed, and 17 more Aptack. These are all relevant. That speed lets Deoxys D outspeed and taunt other walls, winning the hazard wars everytime. It can actually run a few offensive techs randomly, chunking some switch ins. Psycho Boost is pretty strong even off 70 Sptack.
0 SpA Deoxys-Defense Psycho Boost vs. 0 HP / 0 SpD Medicham: 144-169 (55.1 - 64.7%) -- guaranteed 2HKO
0 SpA Deoxys-Defense Psycho Boost vs. 0 HP / 0 SpD Landorus-Therian: 135-160 (42.3 - 50.1%) -- 0.4% chance to 2HKO
0 SpA Deoxys-Defense Psycho Boost vs. 252 HP / 0 SpD Tornadus-Therian: 123-145 (33.9 - 40%) -- guaranteed 3HKO
0 SpA Deoxys-Defense Psycho Boost vs. 0 HP / 4 SpD Kartana: 134-158 (51.7 - 61%) -- guaranteed 2HKO
0 SpA Deoxys-Defense Psycho Boost vs. 252 HP / 4 SpD Toxapex: 168-198 (55.2 - 65.1%) -- guaranteed 2HKO after Black Sludge recovery
So these calcs aren't world beater calcs by any means, but these are solid chunks compared to to what a toxapex can whip out. You mentioned being set up bait for Kartana, but that psycho boost puts kartana in range of water shuriken from Ash-Gren if it hits 3 times or more, assuming its a modest greninja ash. You couldn't just switch kartana in without fear of recourse in that scenario. It could also taunt on the switch if it needed too.
Some other stuff that Deoxys D can do reliably: Trick Room setter, can set up screens, can spread paralysis with thunderwave, toxicing pokes, as already mentioned, it has both spikes and stealth rocks, can knock things off, it even has rock tomb to slow people down in hazard wars.
I'm not saying that Deoxys-D should be banned. I actually think it would be quite nice to have as a general defensive wall that's relatively speedy. Underestimating its flexibility and raw bulk isn't wise though; it's a strong mon no doubt.