You could use this card to bluff your opponent into thinking that you've removed a powerful card, forcing them to waste a card destruction effect such as "Mystical Space Typhoon" or "Heavy Storm" to destroy this card.
Also, even if your opponent destroyed this card, this card was still able to thin the deck by one card.
To get the full benefit of this card's effect, you must protect the capsule from being destroyed until you can retrieve the card you banished. Defer playing this card until you have other Spell and/or Trap cards in hand that can be Set to defend the capsule from removal/destruction effects.
You can use "Magic Reflector" on this card so that you can make sure it will stay longer on the field until you get the card from its effect. "Card Guard" can work as well.
Use this card to banish cards from the Deck that are better used in the late game (e.g. "D.D. Dynamite"). This way, you will not draw these cards early in the game when you cannot use them effectively, and you can draw other cards in your Draw Phase that you need more in the beginning, like searchers. The down side of "Different Dimension Capsule" is that it is a dead draw in the late game.
This card is preferred to Gold Sarcophagus in "toolbox" decks that focus on being able to deal with a wider variety of threats rather than executing the same sequence of combos consistently. Your opponent is much less likely to guess what card you picked, and since you're not relying heavily on that one card it's not a major setback if you lose it. (It's perhaps even a benefit if you're using this to bait away MST from another card)