>>27814101A combination of multiple things. It looks good on paper, but its terrible in practice.
First, and most prominently, 95 speed is indeed pretty bad. Speed should not be read as a gradual increase in effectiveness in tandem with the stat points. It has tiers. 95 is short of the critical 100 benchmark for sweepers, so it's not going to be competing in speed with anything, it'll almost always be outrun by offensive pokemon. This is the same problem Hydreigon has, but Hydreigon has a lot more going for it than Electivire does, and lacks issues such as Electivire's frailness, and even Hydreigon has problems due to that speed tier.
So it's speed is pretty bad. It's ability is also pretty awful. Again, it seems good on paper, but fails in practice due to the rareness of electric moves, and the fact that no one would even want to use electric on it to begin with. The common strategy to resolve this was to pair it with Gyarados for the infamous Gyaravire strategy, but it fails pretty hard. Reason being is, assuming the obvious bait and switch even works and nets you a speed boost, well you may not even BE in the position to sweep. Getting that boost effectively in a situation controlled entirely by your opponent will very rarely allow for a chance to sweep. Sweeping doesn't just happen when youre faster than all of your opponents pokemon. You have to take out key counters/checks, and most importantly soften the enemy team up.
123 attack is good, but its backed by weak BP moves with no way to boost, so it's massive movepool doesnt net improtant 2HKO's and OHKO's.
The cherry on top is, there are no truly powerful physical electric moves available to it.
