The card might find a place in Izzet-colored Commander decks such as Melek, Izzet Paragon or certain Niv-Mizzet builds, though there's stiff competition for those decks' limited creature slots
Outside of mass exile effects like Farewell, its tough to deal with a Hogaak deck because its designed to fight spot removal, counterspells, and wrath effects due to all the reanimator shenanigans going on
If I had to give it a constructive negative, its that group slug isnt exactly everyones favorite archetype to play against and might be off-putting for new players
The instant burn that could potentially take out two dorks in the right circumstances or tapping and drawing a card was incredibly versatile, and gave you tools against both aggro or control/combo in your main deck without needing to sideboard later
Its amazing upside for these costs is that you can pay to gain 1 life as many times as youd like
But even such a simple task may need some skill and knowledge