I agree with placing him in T2. Consider the description for T1 Attackers, "Tier 1 [...] supreme species [...] high Attack, great moves, and advantageous typing [...] favorably matched against many targets."
Kyogre (270 Atk), Mewtwo (300), and Rayquza (284) all have a significantly higher Attack stat than Raikou (241) and fit perfectly a generalist role with their all round stats. Machamp (234) has lower Attack, but absolutely shreds the three most common gym defenders (Blisslax and Chansey), as well as Aggron (T4 raid boss), Tyranitar (T4 raid boss), and Steelix (tanky gym defender). Absol, Lapras, and Snorlax (again), also T4 raid bosses, fall quickly to 'champ.
The description for T2 attackers, "Tier 2 [...] frequently top attackers in many matchups [...] likely be relevant for generations [...] aren't as dominant as Tier 1 Pokemon" seems to me Raikou's ideal position, given that Raikou isn't a generalist on the level of the three legendaries in T1, and doesn't hold a candle to Machamp vis-a-vis countering the most common gym defenders - apart from Gyarados and Vaporeon (would you consider Milotic a common defender?). Gyarados is itself frail as a gym defender, and Vaporeon has a number of strong counters.