>>43632964MUCH more balanced. Hell, that doesn't even need to be Item-locked.
The speed stops it from automatically sweeping, and typing means it'll more than likely get OHKO'd by Ground type moves.
If it can't use Choice Items or Air Balloon, then yeah, it'd be hard-countered by a number of Pokemon. Still would definitely be OU though.
I've never even done anything competitive, I'm just using knowledge I learned from watching vids of competitive stuff.