While this may not seem like much at first, if a second land enters the battlefield under its owner's control, its controller adds four mana to their mana pool
That card is so powerful, but they thought that adding an absolutely backbreaking drawback was enough to make such an ability balanced
The only exceptions were the cards which let the user control when they phased out, such as Frenetic Efreet or Rainbow Efreet, and those which used the mechanic offensively, like Reality Ripple and Sapphire Charm
That being said, this card becomes a lot better if you can manage to give it lifelink
The deck managed a 5-0 finish in yesterdays MTGO Pauper League, so its doing well right out of the gate
Never dead and potentially very powerful in a couple of ways on a two mana card sounds like a winning mix