Yes. Of course it is. Sadly, Dragonite and Lugia aren't in SwSh, so you'll have to use it in gen 7.
The reason it's great is because most attacks won't KO in one hit, allowing you to set up a dragon dance nearly every time. While I'm here, you can have a Gen 7 ou set.
Dragonite @ Flyinium Z
EVs: 252 Atk / 4 SpD / 252 Spe
- Dragon Dance
- Extreme Speed
I just got it off of Smogon lmao.
Edit: A comment on the Original Post said it's good for weakness policy, so have that and get rid of fly if you're using policy. The replace fly with dragon STAB I guess?