Shadow Kabutops

Shadow Kabutops was given a much needed boost to its lackluster attack stat, but it's still not enough to make it genuinely viable in most raids. While it's not a bad Pokemon, it's still very lackluster as both a Rock and Water attacker. Probably better to raise a Rampardos or Swampert instead.

Best PvE Offensive Moveset

• Waterfall should obviously be paired with Water Pulse, though it also pairs well with Stone Edge and Ancient Power for countering fire-types, which is where Kabutops shines brightest

• Fury Cutter, though legacy, is a good fast move due to its superior energy gain.

• Mud Shot is easier to dodge with and better complements Rock-type coverage when contrasted with Rock Smash.

• Ancient Power is best against targets double weak to Rock, while Stone Edge is better against most other targets

Best PvE Defensive Moveset

• Waterfall and Rock Smash are both worth considering, though Waterfall does have the slight edge in a neutral setting.

•  Mud Shot and Fury Cutter have horrid defensive DPS.

• Ancient Power and Water Pulse give Kabutops a chance to use a charge move despite both being easily dodged.

• Though harder to dodge, Stone Edge requires too much energy for a Pokemon this frail.

Mud Shot and Fury Cutter* are very similar in performance, focusing on high energy generation to use charge moves sooner, at the cost of poor damage output. The former is generally recommended for its superior energy gains, and also due to the latter requiring an Elite TM to access. Waterfall is the direct opposite; opting for strong STAB damage output while providing below average energy generation. Rock Smash is a bad move and doesn't suit Kabutops. 

Ancient Power requires the least amount of energy, and is recommended primarily for this reason. While it's not particularly strong, Kabutops needs a charge move with low energy cost in order to not fall behind faster opponents. Stone Edge is strong with STAB, and costs a moderate amount of energy. Water Pulse is a poor move, but is the only coverage option available.