I think we can safely say this is probably never going to hit an opponent's creature - this feels like saying Kolaghan's Command is a discard outlet. (I don't think anyone is going to advocate this, but I'm going to point it out prior to continuing.
I also don't think its reasonable to leave up 3 mana to block-flicker or removal-flicker - therefore i don't think this is the second coming of Ephemerate.
With that in mind, the best comparison is likely Phyrexian Metamorph except it gives you +1 death trigger on the original creatures +1 ETB on the original creature for 3 mana.
This feels like it could have a high ceiling, but I've found the floor with a card like this is likely too low - Especially how easily this could be a 2 for 1 as the opponent could remove your creature in response.
The interesting part i find about the Aristocrats deck was the card that made the deck playable in Modern, Legacy and Vintage Cube was Grist, the Hunger Tide - The deck would like cards that could play the dual role of removal/ card advantage or game progression.
Cards like Tourach, Dread Cantor, Painful Truths etc didn't perform that well despite their 3 for 1 potential as I found these decks don't lack 3 for 1 cards but would like tempo swings/ answers to the opponent's stuff. Hence why more modest cards like Liliana, the Last Hope, , Rankle, Master of Pranks, Tireless Tracker, Murderous Rider etc. that offered tempo swings but also modest card advantages or removal overperformed.
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I'm actively maintaining a comprehensive article to help explain to new cube players how some complex vintage level cards work in a cube environment. Vintage Cube Cards Explained
I also don't think its reasonable to leave up 3 mana to block-flicker or removal-flicker - therefore i don't think this is the second coming of Ephemerate.
With that in mind, the best comparison is likely Phyrexian Metamorph except it gives you +1 death trigger on the original creatures +1 ETB on the original creature for 3 mana.
This feels like it could have a high ceiling, but I've found the floor with a card like this is likely too low - Especially how easily this could be a 2 for 1 as the opponent could remove your creature in response.
The interesting part i find about the Aristocrats deck was the card that made the deck playable in Modern, Legacy and Vintage Cube was Grist, the Hunger Tide - The deck would like cards that could play the dual role of removal/ card advantage or game progression.
Cards like Tourach, Dread Cantor, Painful Truths etc didn't perform that well despite their 3 for 1 potential as I found these decks don't lack 3 for 1 cards but would like tempo swings/ answers to the opponent's stuff. Hence why more modest cards like Liliana, the Last Hope, , Rankle, Master of Pranks, Tireless Tracker, Murderous Rider etc. that offered tempo swings but also modest card advantages or removal overperformed.
Vintage Cube Cards Explained
Here are some other articles I've written about fine tuning your cube:
1. Minimum Archetype Support
2. Improving Green Archetypes
3. Improving White Archetypes
4. Matchup Analysis
5. Cube Combos (Work in Progress)
Draft my Cube - https://cubecobra.com/cube/overview/d8i