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Except Megas actually improved weak/mediocre Pokemon like Kangaskhan, Mawile, Pinsir, Manectric, Altaria, etc. It made Pokemon no one cared about before into relevant and memorable party members.
Z-Moves are still stronger in the hands of stronger Pokemon. Even if all Pokemon can technically use a Z-Move, it's a 1 use per battle thing. No one is going to use Farfetch'd when Staraptor exists.
All they had to do was stop handing out megas to Pokemon that were already good and powerful, but I guess coming up with new designs was harder then making glorified elemental gems with fancy animations