Quoting Bulbapedia:
Dracozolt, like its counterparts, may be based on the Crystal Palace Dinosaurs, a series of misassembled dinosaur sculptures displayed at the Crystal Palace Park. In the case of Dracozolt, its top half appears to be based on a paravian, while its bottom half appears to be based mainly on a stegosaurid. It may have also been inspired by the chimera and similar mythological creatures, which was stated to have the features of different animal species, and is often interpreted as being scientifically constructed from different animal parts.

The Pokédex entries for all the Galar Fossils mention them being the cause of their own extinction, which may be a reference to the outdated hypothesis that the dinosaurs were evolutionary inert, which made them get bigger, sluggish and stupider to the point they couldn't sustain themselves.