Yeah, and it's easy enough to pick a target that probably won't be able to use their graveyard. But there's always that chance that you mill their Time Warp and they have the Archaeomancer in their hand, and otherwise they'd have had to wait quite a few turns to get down to it.
I wouldn't mind it so much if the "green" side of the sword was more relevant. A 2/2 token is much less worthwhile than, for example, untapping all your lands a la F&F. The best thing about that sword, by far, is the protections, and that's less against removal and more for unblockablity as U/G are pretty common colors. It's just not worth it, overall. The potential to help your opponents, even a little, is just the nail in the coffin for the card.
War and Peace should not be underestimated, though. White is a very relevant protection and people tend to hold onto to lots of cards in EDH. More and more often I've found myself ending games with a Boros Keyrune suited up with W&P.