I actually disliked the physical/special split for a few reasons. Pokemon who previously had limited coverage suddenly got many more new options, which made threats in gen IV and onwards more powerful than threats previously. It catalyzed a transition from stat-based defense to resistance-based defense, which meant that it was easier to play around opponents (because you can't resist everything at once).
It would be erroneous to conclude that the physical/special split made more Pokemon viable. It raised the ceiling of offensive potential, but it didn't stop the metagame from being centralized around ~20ish most used Pokemon.
Gen I Dragonite isn't even OU, with or without Wrap.