This card can be extremely useful against Mill Decks.
By chaining this card to the effect of "Morphing Jar", you can recycle your Deck and regain your hand.
This combo can also be pulled off in a Mill Deck. While your hand and Deck will be refilled, your opponent will not be so lucky. This can be a lifesaver if you have less cards in your Deck than your opponent.
This card can be used to recycle Nomi monsters or Limited cards from your Graveyard.
Using it when your hand is at 0 could be more advantageous, since you wouldn't lose hand advantage.
You can Set cards with drawing effects, activate this card and then use those cards to draw some additional cards and prevent your hand from becoming 0.
This card can easily make your hand 0, making it a good addition for an "Infernity" Deck.