In the past, i have used every Raikou set under the sun, LOkou, Subkou, Restalk, Beast of Choice etc. and to be honest they don't stike me as 'phenomenal' and hence BL. It's comparable with Moltres, who is stopped cold by X special wall, whether that be Registeel, Chansey, Lanturn, Venusaur (and more). I think it would be unwise to just rattle off its movepool and say 'well that beats all its checks'. It only has a set amount of offensive moves, usually 2-3 in conjunction with CM or sub. Every set is hard countered or at least not ridiculously difficult to play around. No one set is broken, so i don't see how it should be BL. Every powerful mon can run multiple sets, it's hardly an issue singularly associated with Raikou. Anyway, the metagame already revolves too much around stall, and culling yet another decent offensive threat to stall would be unwise in the interest of the UU meta.
just my 2c
just my 2c















