Megas are alright in theory, but in practice they only make a couple of pokemon more viable than they used to be and make the pacing of battles weird and lopsided. I don't think Game Freak thought very hard about the balance involved, especially seeing as like three of the six megas worth using have been banned already. this makes sense because Pokemon is a game designed for little kids to obsess over, but the wasted potential is a shame nonetheless.
The thing that really bugs me about megas is that Lucario, Gardevoir, Gengar, and Blaziken didn't need the stats, didn't need the overcomplicated redesign, and didn't need the abilities, while some pokemon that DID need reworking were left untouched or given megas that didn't do much of anything.
It's all kind of a massive bummer when I want so hard to respect these games for what they do well, but the design choices made in each new game seem to imply that Gamefreak doesn't really know why anyone enjoys this game series. In other words, Pokemon is a game where all the fun is in choosing your own team from hundreds of different options. Why then does Gamefreak encourage homogenous, dull teams of the same boring mons, first by limiting the game's roster, and then with Megas?
Excuse me for rambling.