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Sorry, but no. Ground is the most common immunity by a large margin and EQ is not the only "perfectly accurate 100 BP move without negative side-effects" anymore. Fusion Bolt, Fusion Flare and Judgement are all superior.
Choice Band Earthquake, as appealing as it sounds, is almost as bad as Hyper Beam in this metagame.
The very fact that Gamefreak has included so many different ways to avoid Ground moves speaks volumes of how significant Earthquake is in the competitive scene. Also, I think Polimario was talking about how on Smogon's usage charts, Earthquake is ranked #1 as the move that is ran the most often, on average.
But the fact that Gamefreak has included so many different ways to avoid Ground moves... shows that there are many different ways to avoid Ground moves. Is it really #1?! But... but Genesect doesn't use it?!
So far, none of those methods have curbed the use of Earthquake on the Pokemon that like using it. If a Pokemon has a decent Attack stat, learns it, and needs the coverage, there's a good chance it will run Earthquake, Flying/Levitate/Balloon be damned.
I think Smogon's chart tracks how often the move appeared on the teams on their servers, with multiple instances counted. Earthquake was #1 last I checked. I do wish I could find the thread, though...
Just becasue an attack is widespread it doesn't mean it's good. Imagine if every single non-Ground type pokemon that learned Earthquake also learned Close Combat or Sacred Fire. You can bet Earthquake wouldn't be nearly as widespread, especially when you factor its redundant coverage with fire and fighting.
Earthquake is essnetially the physical version of Ice Beam in terms of "standard coverage move", except it has 5 more BP, no secondary effect and it's nullified by pretty much half of the metagame.
For simplicity's sake, I'll mention Thunderbolt / Flamethrower / Ice Beam. They're all very strong 95 BP moves with 100% Acc. and 10% chance to Paralyze / Burn / Freeze respectively. All around solid moves without a single drawback.