Ive almost always found the Treasure effect to be a lot less relevant than the card draw, so I think that losing that effect in exchange for flash and a way to help the effect trigger more often is quite a good trade-off
Witness the One True Majesty
Having it stapled to an Elf means it will outperform in those decks (but which cards dont outperform when sleeved up with 40 other synergistic cards), but I think its still worth running in decks that can manage the mana cost
Almost every Ragavan, Nimble Pilferer deck plays the two-mana sorcery alongside it, as the more mana you can create, the better Iteration is as it is not being forced to take lands from it/having the mana to be able to cast any card you hit makes Iteration closer to a two-mana spell that draws two of the top three cards, which is utterly broken
This card's artwork is taken from Yu-Gi-Oh
For those who don't know, Dueling Nexus is a free-to-play Yu-Gi-Oh