The bidding ends if the high bid stands
Reprints in a couple of Remastered and Masters sets haven't so much as put a dent in this card's prestige and priciness, and this one won't either
Both of these spells let you search up two basic lands from your deck and put one into play while the other goes into play tapped, which ensures you have a land drop on your next turn while getting you ahead on lands this turn
Sacrificing a creature to populate is a steep entry cost, though, so you need to be somewhat wide before this starts to accrue value
It would be one thing if it was only doubling its own counters, of which it starts with four, but it doubles the counters on all of your creatures when it attacks
If someone (even you) were to wipe the battlefield, you can have all of yours back for just one mana, since Mirror Entitys ability gives them all creature types