I know, we’ve seen this before. However, with all the Angel of Serenity action we are seeing this might calm them down. Obviously less effective if they cast it off of a Cavern of Souls. You will still get the 7/7 token but it is probably getting exiled by the Angel of Serenity anyhow.
This will probably be countering the X spells or whatever else big spell defines the format. As of now, I mostly see it being relegated to EDH or casual decks. Had it actually been Mystic Snake it would probably have been better due to blink shenanigans.