Like those, it was banned to avoid the perceived-barrier-to-entry, but was strong enough to be a candidate for banning even without the optics especially in long games where the card draw yields inevitability over time
However, not being purely Innistrad, this is a set that many will prefer for its singles than its boosters, and there are a few cards you'll really want to keep an eye on to get the highest value
Of course, there are other targets for it in the format, like Crashing Footfalls, and for a short time where Up the Beanstalk was legal youd draw cards off that when casting this blue instant
Throw in a Coat of Arms and sink your opponents beneath your plague of rats
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As an aura, giving your creature +1/+0, Lifelink, and Ward 2 for two mana is a decent deal