It’s been a while
A cute little card that might make an impact as a sideboard card against Reanimator decks and Snapcaster Mage decks. In response to them targeting their card you have a window to cast this and remove their target effectively ‘countering’ their ability
I can see this in a tokens deck maybe featuring Parallel Lives (that card is soooo close to being competitive). It also disrupts the ever-annoying Deathrite Shaman slightly. In limited, it can buy you a turn by stopping the Treasure Thrull ability once. Alternatively, it’s a great end of turn Extort enabler, often grinding off the final few points of life from an opponent.