You talking about competetive play?
1. its attack power is greater than its special attack power, but most of its attacks are special based
2. using light ball (which is mostly the only way to make it usefull) takes the item spot, so there's no variety to boost it otherwise
3. Lightningrod is an ability for Pikachu which is only accessable by Dream World, Static isn't that much of a use
3. it may be faster but isn't much of a tank (so substitute is really needed)
4. Hidden Power Ice: who the hell invests so much time to get the right typing and a good strength of this attack?
5. even with all this combined it's only useful in NU (but rarely seen)
Yeah, I did a little research