Team looks hilarious, I don't play ubers so just small changes and some curious questions, gonna go thru them in turn
Mega Alakazam: Remember, megas cannot tera, so the tera fairy is just not gonna happen. I made this mistake while rating someone else (Zard-Y tera grass gogo solar beam!) but I later realised it doesn't work that way. In addition, focus blast is really important to hit steels - replacing shadow ball or smt with it is good. You could also have nasty plot but there isn't enough space unless you want to remove another coverage option.
Chien-pao: Seems fine. If you could fit sucker punch it would be great, prolly remove pfangs for that.
Chi-yu: Since this is a scarf you don't need a defensive tera, just go all out with tera fire/dark. Ghost blast doesnt hit anything that dark doesn't already hit. Maybe overheat to blast stuff before dying, but this might leave you vulnerable afterward (no defensive backbone), so... sleep talk? lol
Flutter-mane: I know this is meant to be all choice item but I really think booster energy is better on this one. Blindingly fast, can set up with calm mind and can't really be stopped once it does. Power gem is not needed.
Zacian: Facade over fairy STAB is dubious. I understand that the team has no status absorber, but if you see a wisp coming just hard chi-yu will do.
Glimmora: I feel like sash is better here since it can already kill itself with memento. It doesn't lose tempo, can guarantee a memento/stealth rocks/spin, and it doesn't need to fear hazards since the sheer amount of heavy breakers denies them by their offensive presence.
The changes I've listed are just general things that I picked up, nothing big like replacing a mon because I wouldn't know what to replace things with anyway
Anyway, cheers
Noted, Focus Blast is very situational tho. I'd never use it in most fights where it would outperform any other move since it has only an accuracy of 70. The only time I'd ever try is if the Pokemon is very tanky like Snorlax or Melmetal. It's not just steel types either, normal types are only weak to fighting moves, so that would work well on them, but usually I just switch to Chien-Pao or Zacian who are both carrying fighting type moves. Without Shadow Ball, I have no coverage against ghost types which my Alakazam is weak to and hell I had Signal Beam just for Dark coverage until I realised it was just better to run a fairy type move instead.
Noted, did lose a fight to a random scarfed Houndstone, also there's still the problem with Shaymin Sky so yeah that makes perfect sense. will replace with Crunch. I need Psychic Fangs to remove screens if some dude shows up with a fucking ghost type, brick break isn't going to work and the main gimmick that makes this team work is being able to 1-shot everything before they even move. Screens divide all damage I do by 2.5 times.
Sleep talk is an awful move to have on Chi-Yu, the only way I'd ever be able to use it is if I switched out and then back in and then I'd have to switch out and then back in when it wakes up. The only way this could work is if it didn't have the Scarf, but then it's way too slow and most pokemons can outspeed it. I chose that tera type for its immunity against fake out and fighting type moves since it's weak to them. Same reason it's on Chien Pao. There are a few pokemons ghost can hit that dark can't. Any Fairy/Ghost, Fairy/Psychic, Fighting/Ghost Fighting/Psychic are weak to ghost, but not dark. Not trying to say you're wrong here, it's not the best type if I went for coverage, but I don't think there's any other tera type that'd fit Chi-yu better, both offensively and defensively. Maybe Rock or Ice? They suck defensively tho.
Flutter Mane has the worst physical defence in the whole game with a mid HP stat and the problem is that if I get into a fight vs a Scizor I'll be forced to switch out. If I do switch out with this Pokemon whilst it had a booster energy, the benefit's gone. Hell this pokemon's defence so utterly useless that even when it's electric tera, it still goes from 100% down to 0% in 1 hit from bullet punch which it resists, I'm sure Scizor's huge Attack stat and Technician are also factors or smth, but calm mind and the speed boost aren't worth it. Atleast I can punish with Glimmora and not lose the extra x1.5 effect by switching out with this set.
Zacian has fighting moves which are supereffective against everything fairy is already supereffective against. Welp except dark if coupled with ghost, but only 2 pokemons are these 2 types at the same time. Maybe this is a good idea, but IDK if I need STAB I can either tera it for Close Combat or use Behemoth Blade. If Chi-yu is dead, can't switch to it to prevent burns.
Noted, it did have a sash originally, but it also had Spiky Shield, so I had no way to prevent someone from setting up on it which happened atleast once. Spiky Shield's been replaced with Memento so I'll give it another try.
This is the team now:

@ Alakazite
Ability: Magic Guard
Tera Type: Psychic (I can't yeet the tera type, tho I tried, it just reset to the default type)
EVs: 4 HP / 252 SpA / 252 Spe
Timid Nature
IVs: 0 Atk
- Energy Ball
- Psyshock
- Shadow Ball
- Dazzling Gleam

@ Choice Band
Ability: Sword of Ruin
Tera Type: Ghost
EVs: 4 HP / 252 Atk / 252 Spe
Jolly Nature
- Ice Spinner
- Sucker Punch
- Psychic Fangs
- Brick Break

@ Choice Scarf
Ability: Beads of Ruin
Tera Type: Ghost
EVs: 4 HP / 252 SpA / 252 Spe
Modest Nature
IVs: 0 Atk
- Flamethrower
- Dark Pulse
- Psychic
- Tera Blast

@ Choice Specs
Ability: Protosynthesis
Tera Type: Electric
EVs: 4 HP / 252 SpA / 252 Spe
Timid Nature
IVs: 0 Atk
- Thunderbolt
- Moonblast
- Power Gem
- Shadow Ball

@ Rusted Sword
Ability: Intrepid Sword
Tera Type: Fighting
EVs: 4 HP / 252 Atk / 252 Spe
Jolly Nature
- Behemoth Blade
- Close Combat
- Sacred Sword
- Facade

@ Focus Sash
Ability: Toxic Debris
Tera Type: Bug
EVs: 252 HP / 4 Def / 252 SpD
Bold Nature
- Mortal Spin
- Earth Power
- Stealth Rock
- Memento