Frankly, I might be smoking copium a bit too hard, but I feel like Blood Moon Luna might possibly be even better than regular Ursaluna?
Calm Mind + Recovery in Moonlight is a VERY big deal. Stat-wise BL Ursaluna is even bulkier on the physical side than regular Ursa, while it's especially weaker on the special side, I can see setup Ursa Sets investing fully in spdef work very well with CM.
I think most people don't realize just how good normal hits coverage wise, Blood Moon + Earth Power is perfect coverage on this mon, with EP hitting the few steels and rocks in the metagame. Also you have a lot item freedom with this Ursa, obviously you don't have status immunity, but you're also not on an initial timer with flame orb.
I actually was gonna post a similar hot take.
It doesn’t have the same punch as a guts boosted Facade on paper, but you got to remember a few things.
-You’re basically required to use Flame Orb on Guts Pokemon, so you can’t run items like Life Orb or Leftovers (you technically can but it’s far worse than not running Flame Orb)
-Because you do use Flame Orb, there is at least 1 turn where you do significantly less damage than normal
-Because you’re burned, you always take chip damage which can stack over time. This stacks with Spikes, Stealth Rock, and damage you deal directly to it
Blood Moon in the otherhand can run things like Leftovers, Life Ord, Specs, Silk Scarf, weakness berries, etc.
Blood Moon always has the option to fire off Specs boosted Special Attacks.
Blood Moon not only doesn’t have to worry about constant chip, but also can heal itself with ease with Moonlight.
Also better Scrappy means Blood Moon doesn’t have to play around Ghost types with prediction.