We rarely see Gengar with the complementary red background this card boasts, and matching the color in its eyes is an excellent bonus that makes this card stand out
Having multiple paths to victory, instead of just one, can keep us coming back to a deck instead of getting bored of it
Mystic Snake is a lot worse of a Counterspell than Plasm Capture as a mana injection tends to be more use than a 2/2
The fewer colors in your deck, the better this card ends up being because you wont have to pay as much life
If that player declines to have you draw, you may play a creature with a lesser or equal toughness directly from your hand without paying its mana cost
Being able to (potentially) cheat out cards like Worldspine Wurm, Shriekwood Devourer and Thunderfoot Baloth is nice, but there are some solid reprints, too