Theres a restriction on how you can spend that mana (bad), and the second mode brings almost nothing else to the table (also bad)
Any instant or sorcery you cast that targets a single thing can be copied, with new targets
Dust, fingerprints, and minor surface dirt can affect your card's appearance and, in some cases, lower its grade when evaluated by AGS, PSA, BGS, or CGC
immediately netting 1 mana does more work than it seems
This is also a board wipe that hits all nonland permanents, so theres a good chance this card will take care of whatever form your opponents threat is taking
In fact, the whole Scarlet & Violet set has seen its prices crash, and crash hard, in its first fortnight on sale