Blaze done right. This is by far red's best way of dealing with beefy creatures / planeswalkers, and doubling as a win condition makes this pretty versatile. While red has no shortage of versatile removal spells, none of them can deal with big threats, and that's always been one of red's biggest weaknesses. I don't think this is on the level of Fiery Confluence in terms of versatility / power, but it's a nice new tool for red to utilize, especially in non-aggro decks.
This is really fantastic at killing creatures, but Fireball is still much much better at killing players, which is a huge part of its job. This is a less anticlimactic way to end a game than fireball for 7, since it's interactable, but I don't think most cubers are worried about that. I think a more traditional X damage spell tends to be better.
But on the other hand, this deals with some high-toughness creatures that red burns traditionally can't handle. That is worth something.
The versatility on this card is pretty sick in limited. While it does suffer from being to do direct damage to the player I have found some pretty sick creatures synergies that work with the token. Does not make vintage but can make it in lower powered cubes