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Use it to benefit your own board in decks that run Haunted One, preventing you from having to attack with your commander or tap down your Kalamax, the Stormsire to start copying spells

I_Want_To_PlayAllTheDecks says

It costs to cast, or it can be suspended for and four turns

Its quick, its clean, and its everything you want for a tribal build

finally, all will tremble at the might of Floodbringer

Dredge is beatable if you pack at least four graveyard-disruption cards in your sideboard, just like Affinity is beatable if you have a bunch of artifact hate, Tron if you have Fulminator Mage, Infect if you have Sudden Shock and Gut Shot, and Death's Shadow Zoo / Burn if you have Chalice of the Void