They are all viable
I run this is the vast majority of my Blue Commander decks, since, unlike Rhystic Study, this is nice and no one will feel hurt with your taxes or massive card draw
Siege-Gang Commander makes 3 1/1 Goblins and can sacrifice them for one and a red mana to deal two damage to any target - it's obvious that Spawn-Gang Commander hasn't forgotten its roots, featuring an almost identical set of abilities and text
If we look at the most played creatures in the 99, this hits Archmage Emeritus, Champion of Lambholt, Drannith Magistrate, Esper Sentinel, Grand Abolisher, Notion Thief, Opposition Agent, Pitiless Plunderer - the list goes on
Its a bit expensive to really be all that useful, though
But what truly makes it legendary is its cycling ability