Being able to counter problematic multi-colored cards for a single colorless mana will be a great effect anytime a counter to colorless strategies exists as a multi-color option , and Null Elemental Blast will have the unique effect of making sideboard decisions that much more difficult based on its mere existence in Modern
But I dont think you need me to tell you that Rancor and Sheltered by Ghosts and Ethereal Armor are strong cards to put in your deck and theres other resources out there if you do need that
Playable in Legacy and EDH alike, it costs only three mana and you can even decide to pay less mana and keep your bigger creatures alive
As such, its not only possible but probableand even likelythat the figures on this card are meant to be literal KKK members
Until then, though, it doesnt really matter, because it was already available in 1st Edition form anyway from the day Jungle released
All cards listed feature their first edition artwork and market prices according to TCGPlayer