Combine this card with "Pot of Dichotomy" to draw up to 5 cards, and inflict 2400 damage to your opponent. That card's effect also skips your Battle Phase, so this card's drawback will not be a problem.
This card works well in a "Gagaga" Deck; especially one that utilizes "Gagaga Child". Just normal summon "Gagaga Magician", change its level to 8, then special summon 2 "Gagaga Child"s, and use their effects of changing their levels to 8. Then finally Xyz summon "Coach King Giantrainer", and use its effect 3 times. This way, you have made sure your hand is no less than 6 cards, plus you might have inflicted 2400 (or less) of effect damage using its effect.
This combo is perfect if it was your first turn.
It could also help if you had "Gagagadraw"; since you activated this card's effect 3 times using only "Gagaga" monsters as Xyz material, ensuring that you have the 3 "Gagaga" monsters in the graveyard required for "Gagagadraw".