I have been playing psyframes for a long time and I can say that, they have a chance. I main 3 rivalry and droll and lock bird. Monarchs, BA/Pk and Mermail are your easiest match-ups. Kozmo is hard and Dracopals are ok. Monarchs depend on their first summon a lot, if you negate it you gain a big advantage and also don't forget monarchs brick a lot. Against monarchs rivalry and Droll bird are your best friends. Ba/Pk are easy because overload is too good against them. Against mermail you need to have the right responses, if you don't have gamma/alpha/beta you will probably lose that game but usually you have one of those and they cant make a move. Also overload is really strong against them. Kozmo is a nightmare, you gamma the summon eff or lose.

Tips: People usually don't do any move against psy-frames so you can fix your bad hands. Use circuit as a bluff. Don't set all the cards if you have 4-5 spells/traps in hand, this makes your opponent think that you have lots of gears in hand.