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In ranked? I can't imagine much success; it's predictable, Shadowtag can be bypassed by U-Turn and Volt Switch, Taunt stops it completely.
In Doubles it's forced to predict between Specially and Physically oriented attackers when they're fielded together, and worse still, Wobbuffet can be safely ignored. Singles too; it's a safe Pokemon to set up on - even with a Sash. A held item is unlikely to stick in a Meta saturated with good Knock Off users.
That said, test. Find what works for your team.
