We've added a search filter to the Bulk Product Editor to identify products that are completely out of stock:
We already had a search filter for a product's total inventory however searching for "total inventory = 0" might still display in-stock products if you have negative inventory levels on other variants.
For example, if a product has two variants and one variant has 1 unit in stock and the second variant has a stock level of -1, the total inventory for the product will be 0. (Shopify treats this situation the same way.)
The Product is completely out of stock filter however, will only match on products where none of its variants have an inventory level greater than zero.