The card itself isnt very good as a 3/1 haste thats free one turn, but costs 4 mana the next or your die
Chart shows the price of Victini VMAX #22 at the end of each month going back as long as we have tracked the item.
The Eons Torn will typically shut anything else down with her annihilate, Myr Battlesphere makes a massive board, Griselbrand refils your hand with gas and so on
Garnering a mana advantage is one of the best ways you can win a game of Magic, plus there are plenty of lands with powerful activated abilities you can double down on when you untap them
WotC has clearly worked hard to tune a three-mana planeswalker we can describe as playable rather than forgettable or format warping. Kaitos phasing trigger basically guarantees two activations, even in decks that hate to block, and the combination of card draw and ninjutsu-enabling will always come in handy
It shows up in Modern decks like Tron, which cant afford to pay colored mana for removal, and cascade decks that use it as a 1-mana play that doesnt stop them from cascading into Crashing Footfalls