With the Red activation, it is a solid common.
More likely though, youre trading a mediocre creature for one that is game breaking on the current board, or drawing two to three relevant cards as a +1 ability
Ulamog, the Defiler is pretty powerful, although Im not quite sure where the hype is coming from to get this all the way to the top spot
Creatures (9) Lands (21) Spells (30) Creatures (12) Lands (21) Spells (27) Creatures (16) Lands (20) 20 Island Spells (24) 4 Opt 2 Spell Pierce 2 Entrancing Melody 1 Chart a Course 3 Dive Down 4 Curious Obsession 1 Blink of an Eye 4 Wizard's Retort 1 Quench 2 Essence Capture Sideboard I think theres a good lesson to be learned comparing Thought Erasure and Dive Down
Discard Outlets When talking about discard payoffs, its often inevitable to also mention the discard outlets you can use to maximize their power
This can be activated for 0 to destroy a Reflection, so if someone has a Reflection token that would stop your creation just randomly, like the Changeling made by Crib Swap, you can destroy it to make your 2/2