This move sounds shocking, and I can't think of why you would ever use it beyond some sort of easily counterable gimmick - any opponent who lets you use a boosting move and then revert back to having those boosts under a choice item isn't going to be a good player in the first place.
As others have said, Knock Off exists and does a better job at getting rid of anything but sashes than this move does as it's a permanent effect. It also doesn't have an atrocious priority bracket, with the right match up you could Knock Off a Band before they could use it which can never be said here. In the opening of the thread it says it counters Gliscor, but Gliscor only needs to be in one turn when you don't have Magic Room up to get his Poison Heal.
For the Gothitelle set, run Trick instead of Magic Room. Trick a mon who's not notorious for attacking, set up, kill them off and then try for your sweep. I hate to say it, but Scarfed 65 speed is pretty terrible, and CM does nothing to patch up Gothitelle's mediocre Defense. Even then, this isn't a good use for a trick set - you're far better using your completely free switch to set something good up.
By using the move, you're wasting a turn where you could be attacking, statusing, setting up, screening, setting hazards, clearing them away or healing status or health for other pokemon. All of those actions have a direct correlation to doing damage or receiving less damage/recovering health - Magic Room cannot say the same in every instance. It's even less viable in this gen due to megas, and you also run the risk of doing your opponent a favour by oppening up coverage they may not have had before with a choice item.
Though this move is fun, please don't try and use it seriously - it's a terrible, terrible idea.
