Sleight of Hand gives you more choice by seeing the second card, so you need a real reason to Opt
This is an interesting take on a wheel effect and one that points to a spellslinger theme for the Jeskai faction in Dragonstorm
While Chromatic Lantern is a very nice addition to help ensure you have access to the colours you need, if you're going to upgrade this improving the lands and swapping out that Temple , Swiftwater Cliffs , and Terramorphic Expanse should be your first priority
For one black mana and two life, it returns a dying creature to the battlefield
Commanders like Y'shtola, Kefka, Tifa, and more have unique abilities or powerful combos to build around
So much so, that I think they risk hastening power creep by making the cards too competitively costed, and outmoding other options