An instant speed kill spell is mighty, and the treasure helps mitigate the cost, so at first it's hard to see why this might be
2 Blood Moon Many decks in Modern will be concerned when this hits the battlefield, and that includes Affinity
This is an enabler for the exchange of -1/-1 counters with tokens out of Nest of Scarabs
The other mentions are basically any of the Gisa or Geralf iterations, all of which are easy includes in any deck that cares about having the best Zombies in Commander in it, because they make a lot of Zombies and have some excellent synergies
Still, some version of this effect could be a cool enabler, and I would love to see this as a combo piece in a Laboratory Maniac deck
Im here to sing the praises of some good, honest workhorses