And Smogon says "how about we unban Giratina-O?"
Seriously, that's happening. It's been a while since we've last had some kind of unbanning that didn't involve the gen-start reset, so I'm looking forward to seeing how this test goes. Not sure why not Giratina as a whole, but hey, that's a start. It also emphasizes the third-version cover legendary curse even further... the only one worth using in ubers is actually so powerful it's banned from there too.
Edit: The early buzz suggests it's pretty dang ridiculous. I mean, 150/100/100 defenses and 120 in both attack stats? With a movepool far above and beyond anything Kyurem-B could muster? Yikes. The Griseous Orb isn't exactly dead weight either. Sure, it misses Leftovers dearly, and has no instant recovery whatsoever, but +20% to all STAB moves is still pretty dang solid.
Edit 2: So it WAS an April Fools joke after all. Not do the joke on April 1st just to get people, then specifically say it's not a joke, and if it was it'd be on April 1st? That's kinda low. Though I wonder how the people who said it was balanced are feeling now. They're probably the biggest fools of all at this point. The good news, though, is that now we know: unbanning anything right now is a pretty bad idea. Giratina-O was in all likelihood the uber with the best chance of getting demoted, and look how well THAT went.