This card is powerful in "Skill Drain"-based Decks. You no longer require a Field Spell to maintain this card and "Malefic Blue-Eyes White Dragon" will not prevent your other monsters from attacking. It also allows a "Skill Drain" player to effectively use the "Trade-In" draw engine by running this card, "Blue-Eyes White Dragon" and "Beast King Barbaros".
"Future Visions" is a good Field Spell to use with this card, since it locks opposing Summons.
This card can be part of a great combo with a "Blue-Eyes" Deck. If you were to Special Summon this card, and either Normal Summon a "Blue-Eyes White Dragon" or already have one out on the field, you can then take advantage of "Malefic Blue-Eyes White Dragon's" effect. Since "Blue-Eyes White Dragon" can't attack anyway, you can use "Burst Stream of Destruction", allowing you to destroy all monsters on your opponent's side of the field and still have "Malefic Blue-Eyes White Dragon" to attack your opponent directly with. Although, be aware that the combo is extremely situational and is only best to use when either you are unable to Summon "Blue-Eyes Ultimate Dragon", or you have only these two particular monsters and maybe a "Stardust Dragon" to stop your opponent from stopping your combo.
In a "Dragunity" Deck, you can activate "Dragon Ravine's" effect to send "Dragunity Phalanx" to the Graveyard, then Normal Summon "Dragunity Dux", which will Special Summon the "Phalanx" to the field. Then, banish a "Blue-Eyes White Dragon" from your Deck to Special Summon this card, and Tune with "Phalanx" for "Trident Dragion", destroying "Dux" and "Dragon Ravine" and attack for 9000 Direct damage. Obviously this is best to do after you clear your opponent's field.