Because the Charizard card of this set, the one that cost 50$ twenty years ago, today can cost if in optimal conditions, as just taken out of the bag even 9,000
Blue makes up for not being great at stax by giving you great counterspells, card draw, and tutors
On top of that, Mark Rosewater, Magics Head Designer, has spoken many times on Blogatog about how unlikely the idea is to be used again
Its Ability has the chance of preventing all damage done to it with a single coin flip
The more mana you have in early turns, the faster you can play spells and creatures, and start building up your board
The interesting part of this card is that it already comes with a reanimation option, should it die or you discard it