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When any player casts an instant or sorcery spell, Niv-Mizzet deals damage to any target
When it comes to sideboarding, I think the most obvious cards you can cut are as follows: 1-2 Exhume or Animate Dead Going down to ten reanimation spells is okay, and which you cut depends on the matchup
It also helps that this is an incredibly silly effect - the sort of thing we'd expect to see in an unset than on a regular Magic card - and tied to a very popular Marvel character
Stealing your opponents best creature is two-for-one of the best kind, dramatically shifting the balance of power on board
On ETB, this Modern Horizons 3 Eldrazi card gains a number of +1/+1 counters equal to the highest mana value card in exile, and then gains the infamous Annihilator MTG keyword