It delays damage for a turn, and if you were about to die from that damage, then it's basically a Green Time Walk as it gives you another turn you weren't expecting
It has always been rather a clumsy card whose abilities rather counter certain different things rather than offering any particular synergy with your own strategies
However, since the creature is face down, it remains a 2/2 colorless creature with no name, types, or abilities, and no mana cost
This blue sorcery is a key wheel effect in the Dandn format, which is just popular enough to give it some credit
Its still going to draw you all those cards
The dragons great in a red artifact deck trying to power out big artifacts quickly because early mana rocks work incredibly well with big affinity spells