If youre running a Yuriko list with a lot of legendaries or rocks, or youre playing jam all the Assassins into one deck then this is a solid card for that strategy
Enhance your collection or kindle epic battles
The floor on Mystic Confluence is drawing three cardsessentially a Jace's Ingenuitywhile the ceiling is a three-for-one when you can Mana Leak an important spell, bounce one of your opponent's creatures (or even your own Snapcaster Mage), and draw a card along the way for good measure
On the surface of things, this should make the format simplerplay bombs and win
For Frodo, this highlights when the character had to put on the ring to hide from the Ring Wraith near the beginning of the story
In this situation, being able to then use an Aether Gust to force my opponent to recast the Frenzy into my counterspell would have been ideal