Reweave

The phrase "target permanent's controller" is the whole hinge, and reading it as opponent-only removal misses the more interesting half of the design. Point it at your own permanent and the dig-and-put-into-play clause stops being a tax and becomes a tutor: sacrifice a token or a cheap permanent, reveal until you hit a card sharing its type, and drop something far larger onto the battlefield for free. The shared-type constraint governs the gamble in both directions. Aim it at an enemy creature and you might convert their two-drop into a bomb; aim it at your own land and you are flipping toward another permanent that may or may not be the thing you wanted. The randomness (reveal until, not choose) is the cost the design pays for letting an instant cheat a permanent into play at all, which is why it was never priced as clean interaction. The splice clause then turns greedy: a static ability that rewrites the Arcane spell you are already casting, folding this sacrifice-and-replace effect into that spell's resolution, with a steep splice cost as the brake on bolting that text onto every link in a chain. The card holds two readings at once: a high-variance removal spell that hands something back, and a self-targeting reanimator-adjacent enabler that swaps a small permanent for whatever sits near the front of your library. Which one you are playing depends entirely on who controls the target.