Is the deadlift really the king of exercises? 
It’s touted as the king and ultimate exercise for building muscle, strength, power and core stability.

However this is debatable at best… In head to head comparison with the trap deadlift, multiple studies show the trap deadlift is better for maximal force and power.

Next for building hamstring strength needed in athletic ability such as sprinting. Nordic curls may be a better option as they allow higher eccentric overload.

For use as a core stability and strength movement, although it does work the erector spine muscles effectively, it only does so in a specific range of motion, for a more complete lower back strength exercise, the hyperextension is far more effective.

Finally for building muscle, although the deadlift allows heavy weights, it doesn’t allow much mechanical tension on each individual muscle and therefore enough stress to build muscle that effectively. 
In my opinion, although deadlifts can be a useful exercise, the benefits it gives need to be taken with a pinch of salt.