This card piques my interest enough that I feel inclined to argue its case. I think the best way to evaluate it is to think of it as a 4-cost version of Vampire Nighthawk with modes to draw a card and/or get an edict effect. Yes, against instant speed removal you're going to get slammed on tempo, a problem that is compounded by its vulnerability to bolts pre-flip, but this doesn't keep Braids or Rankle from being great cards, and I think the flexibility which Henrika provides allows her to overcome this flaw as well. The thing about the 4-toughness Nighthawk and Edict modes is that when they are good, they are really good. And in situations where they're not as strong, you can play Henrika as a Muse Drake which threatens 6 life swings in the air if she survives. The only other concern is that she faces stiff competition from other B 4-drops. For that reason, I think that she might not make the cut for a lot of cubes, but I'm certainly going to give her a chance to earn her spot.
My current black section is more midrange than most, and think this might be as good as rankle or better in a midrange shell.
In a normal agressive black section, it's definitely worse than rankle, but might still have a home alongside.
I like the card. Probably just short of good enough, but not by much.
The play pattern of t1 draw a card/sacrifice -> t2 flip -> attack with mini baneslayer is pretty powerful against almost any deck.
The more I think of it like a baneslayer angel that cantrips, with some added utility, the more I like it
This card is just SO fair. You get a 1/3 flyer for 4 that draws you a card, then next turn, if it sticks around, you get to attack with a 3/4 lifelink. That's gonna be the normal line. That's not cube worthy nowadays. Sure, sometimes it edicts them and that's exactly what you need, sometimes you really need a 3/4 lifelink deathtouch, flyer for 4, but none of it is exciting. Easy pass for me.