Hunted Dragon has its uses. A 20/20 unstoppable flier is really nothing to sneeze at. For 7 cost it's actually very good, statwise. Hunted Dragon decks tend to splash FD for things like Fiery Resolve to negate all the removal that's chucked at it, especially things like Death Rays.
Unfortunately for that deck, the game got quite a bit faster, and single target removal is pretty common in almost all decks. It's fun to bust out occasionally, but it might need quite a bit of work to make it competitive.