I honestly feel like OU this gen can be very healthy without Dynamaxing.
As of right now, everything is hyper-centralized around the mechanic because you either sweep with it, or you get sweeped by a Ditto that copied all the stat buffs Dynamaxing gave you. Or a *****-ass Fish sweeps you but that's another story.
The power level of OU, minus Dynamaxing, is ridiculously low this gen compared to others, which isn't a bad thing by any stretch of the imagination, though there's also a lot less viable Pokemon in the tier.
That's not to say there's not variety though:
Sand
Rain
Stall
Trick Room
Hyper Offense
Balanced Offense
Speed Control Offense(Dracovish + Sticky Webs)
Are all viable strategies right now.
There definitely are Pokemon that are currently being watched like a hawk, all eyes on you Galarian Darmanitan, but then Pokemon like Dracovish, despite being absurdly powerful, have plenty of checks in the tier(Seismitoad, Gastrodon, Hydreigon and Dragapult, etc all hard counter our fishy friend here).
It's going to be a gen that's a lot weaker compared to prior gens, but that's okay.
As long as Dynamaxing passes the final ban stage, that is, which, so far, is looking good.
It's a shame that Gigantimaxing is a collateral of this, since a lot of 'bad' Pokemon get a boost from their Gigantimax form, but it has to be this way, no exceptions.