The ability to reuse any low CMC permanent opens the way to abuse with cards like Animate Dead, Necromancy, and Dance of the Dead while still letting you reuse Sakura-Tribe Elder and other efficient utility creatures
It can steal a lot of cards from your opponent over numerous turns, and its likely to deal some damage while its at it
This likely isn't going to be a deal-breaker when free removal in black doesn't exactly grow on trees
In most cases, the Ward cost is mana, but in some cases it can be paying life, discarding cards, or even taking poison counters
The two-drop legendary will tap for colorless and when your legendary dork arrives to Equipment for three to give it +3/+3 and no other abilities
A card like this one will likely be in the next block to hose all those ETB Energy cards in Kaladesh