Enhanced Awareness
The math is the whole problem: three cards then a discard is a net two, and at five mana the rate has been embarrassing since bulk-common draw first set the bar. Divination drew two for three mana in an era well before this printing, and the upgrade here (a third card, plus the freedom to pitch the least useful of the three) does not come close to justifying the two extra mana it charges. What keeps it above unplayable is the timing window. Instant speed lets it sit on a counterspell mana base, refilling on an opponent's end step or after a board wipe resolves, and the discard flips from cost to feature when you are pitching a land you no longer need or feeding a graveyard payoff. Those are narrow conditions, and finding them wants a control shell patient enough to wait rather than a tempo deck that needs its mana doing work every turn. Its place in the blue card-advantage lineage is the dull floor: the point where instant speed is the only argument on offer and the rate is quietly asking you to ignore everything cheaper that does the same job.
