>>53328800It also gets completely mogged in competive utility.
Walking Wake has a decent type (water doesn't add any weaknesses to dragon and gives you a very good STAB option) and has unique traits that make it work in both sun and rain teams: in sun it gets the proto boost, extra damage on flamethrower, and its signature move is the only water-type move that gets stronger in sun instead of weaker. In rain it has hurricane and gets a damage boost to its water STAB. I can see it being used in sun teams to give extra coverage and in rain teams to act as a counter to sun teams.
Iron Leave on the other hand is Grass/Psychic, which is not a type combination that synergizes well at all. Psychic is super-effective against poison, which grass is weak against, but doesn't actually resist it, and you end up with a lot of weaknesses, including taking 4x damage from U-turn. Its signature move getting extra damage in electric terrain is nice, I guess, but it's nowhere near the level of Walking Wake turning what would normally be a damage reduction into a damage boost.