The one time clause seems weak, but you are playing a 2 drop 3/2 at uncommon, and that is an aggressively costed creature
Draw payoffs tend to play well in group hug decks, since many of your Howling Mine variants are already drawing you tons of extra cards
But it wasn't even close to becoming the Vintage powerhouse it would turn into once the dredge mechanic was printed in Ravnica: City of Guilds

Commander Creatures Avian Oddity Brallin, Skyshark Rider Chasm Skulker Cloud of Faeries Cunning Survivor Curator of Mysteries Drannith Healer Drannith Stinger Faerie Vandal Flameblade Adept Flourishing Fox Granitic Titan Herald of the Forgotten Hollow One Imposing Vantasaur Irencrag Pyromancer Lava Serpent Macetail Hystrodon Mad Ratter Nadir Kraken Nimble Obstructionist Niv-Mizzet, Parun Niv-Mizzet, the Firemind Noble Templar Oketras Attendant Ominous Sphinx Oneirophage Prickly Marmoset Quakefoot Cyclops Rooting Moloch Sanctuary Smasher Sanctum Plowbeast Savai Thundermane Shabraz, the Skyshark Shoreline Ranger Snare Tactician Splendor Mare The Locust God Valiant Rescuer Viashino Sandsprinter Vizier of Tumbling Sands Winged Shepherd Zirda, the Dawnwaker Noncreature spells Abandoned Sarcophagus Choking Tethers Crystalline Resonance Drake Haven Escape Protocol Floodwaters Fluctuator Forsake the Worldly Improbable Alliance Manalith New Perspectives Ominous Seas Raugrin Crystal Reconnaissance Mission Sacred Excavation Shark Typhoon Sweltering Suns Unpredictable Cyclone Zenith Flare Lands Ash Barrens Clifftop Retreat Command Tower Desert of the Fervent Desert of the Mindful Desert of the True Drifting Meadow Forgotten Cave Gateway Plaza Glacial Fortress Inspiring Vantage Irrigated Farmland Lonely Sandbar Mystic Monastery Port Town Prairie Stream Raugrin Triome Remote Isle Sea of Clouds Seachrome Coast Secluded Steppe Smoldering Crater Spirebluff Canal Sulfur Falls 4 Plains 4 Island 5 Mountain Alex is an Azorius bureaucrat who dreams of joining the Selesnya Conclave

People dont often trade bulk, but that doesnt mean its destined to gather dust in your closet
"Destroy" effects are far from the most reliable removal in a format like Modern, but there's a lot to be said for any card that replaces itself, especially at this cheap a cost