Some Inks get stronger, while others fail to keep up
One of the ingenious things about Magic: The Gathering is, while there are (rather extensive) rules of the game, if a Magic cards text breaks a rule, that Magic cards text takes precedence
Its pretty unprecedented to get this level of flexibility on an instant speed trick
In a meta where dealing 1 damage to an opponents creature matters this is potentially: three mana kill a creature, deal 4 to opponent, draw a card and thats a great card
At low converted mana costs, you can easily take advantage of graveyard setup creatures like Hermit Druid, pull different types of cards back to your hand with Eternal Witness, or even ramp with Wood Elves
You may spend mana as though it were mana of any color to cast planeswalker spells