Is Psychic really bad enough of a type to qualify? Sure, it is a shadow of its former self from the gen 1 days, but Psyspam teams are still competitively viable, and Pokémon like Galarian Slowking get use out of the type's offensive and defensive qualities. I don't think it's like Rock or Ice, where merely having it opens up gaping defensive flaws in a Pokémon's build.
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While you make a good point like before, Psychic just pales offensively and defensively compared to the rest of the cast.
It's not BAD offensively, but Ground (Poison), Fairy and Flying (Fighting) do its job better, plus not hitting Dark or Steel hurts. Electric, Ghost and Dark hit two types as well, but they can hit Steel and also hit better defensive types than Poison.
It is, however, BAD defensively. Resisting Fighting is done better by, again, Psychic, Flying and Ghost, while resisting itself isn't THAT big of a deal. It's also weak to strong types in Ghost and Dark, and to U-turn (yes, notice I said U-turn, not Bug).
There are Psychic-types that dominate their metagames like Latios, Reuniclus, Mega Alakazam, etc., but this is more because of their singular traits rather than their Psychic typing, and they'd unquestionably be better off with most other types (discounting Bug and Normal).
Edited by EddieBeep
You make some good arguments. My main concern was that including Psychic was stretching the definition of Low-Tier Letdown, since it's only supposed to apply for the characters/types infamous for being completely unplayable. Though, Psychic is starting to develop a reputation as a notoriously bad type in competitive circles, and you're right that most of the viable Psychics have lots of other good traits to make up for being weak to some of the most spammable types and moves in the series.
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I'm keeping an eye on Gen IX's Spidops, which seems likely to end up here.
Looking over Altaria's entry on the page, I'm not sure if it really qualifies. It performed pretty decently in the lower tiers for the first few generations of its existence and gen 9, and counting its Mega, the only time it's been truly bottom-tier has been gen 8. It also hasn't attracted backlash for how bad it is in the way that stuff like Electivire has.