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Dynamax was a mistake.
It basically boils down to who dynamaxes first or who has the most broken dynamax user.
Mega evolution was better because it at least altered the playstyles of pokemon and gimped items while dynamax is 3 turns of coinflip.
In theory it sounded like a great idea but then you realize max air stream is broken, g-max lapras is just boring to play against, and everybody is using the same 3 dynamax/gigamax users in competitive taking away versatility anyway.