If it has been discarded from your hand, milled from your deck, or killed off the battlefield, you need to return it to your hand to have the option for the adventure
Add in Ward 2, lifelink, and the fact that the ability can scale up or down with your mana, and you've got one of the meanest disguise creatures to come from Karlov Manor
If all of the damage is prevented, the effect of The Rollercrusher Ride's first ability no longer applies
ButI worry a little bit about the many situations where you cant really effectively tap your merfolk to get it going and those are definitely going to come up

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The baseline here is basically a 5-mana 3/2 and a 2/2, but it's so much better than that -- not only because it can just be one big creature, but also because endure keeps triggering when it attacks