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Mega Evolution was honestly a more interesting idea than what they've tried to replace it with.
Part of what's great about Megas to me is seeing how each individual Pokemon is enhanced, with retooled stats, abilities, and sometimes even movepools. The transformation is entirely their own, and takes them to the next level in a unique way.
Everyone can use Z-Moves, but that's part of why they aren't terribly exciting as a concept. They're just generic super attacks. And being locked to 1-turn, they can still fail. Wheres Megas can retain the benefits of their form change for as long as their in Battle.
This Dynamax thing isn't super interesting to me. Once again, it doesn't enhance Pokemon at the individual level. It seems like another big way to just make every Pokemon super powerful at the same time, for a limited time...