It applies pressure and replenishes your life total, which makes it relevant against both grindy decks and more aggressive, damage-based ones
At least Drove of Elves has hexproof, but I wouldn't even play that
#2 Dawns Truce Dawns Truce Bloomburrow, Rare Dawns Truce from Bloomburrow is a two-mana white instant that provides you and permanents you control hexproof until the end of the turn
Time Spiral block's storyline had us revamping the power level of the Planeswalkers to allow us to make them a bit more approachable (characters with god-like powers were hard to relate to), and Future Sight was about peeking into the mechanical future of Magic
decks that win by continuously casting a lot of spells) as well as turbo (i.e
they don't have to figure out how to package a fundamentally confrontational game so that the players and characters aren't at each other's throats, trying to kill each other, while keeping everything looking sunny and peaceful