Five mana for a 3/4 flier that loots is below the rate TMT's top-of-curve demands. The five-slot is where the legendary uncommons close games and the bombs pull removal; a self-replacing flier with a rummage rider sits well underneath that bar. The Islandcycling is the actual sell, and even that is softened, because fixing is already good at common between Escape Tunnel, TCRI Building, and the hybrid mana on splashable cards like Mechanized Ninja Cavalry. The cycling mode is rarely the unlock it would be in a tighter mana environment.
UR Sneak and the GU artifact-and-tempo build are the two homes, and they want it for different reasons that both land soft. UR Sneak treats it as a P1P10 to P1P13 body: a flier that smooths a splash once the deck's earlier threats are locked. GU wants real card advantage to fuel its longer game, and a one-card cantrip stapled to a slow body is a low-priority hold there, not the engine the archetype is reaching for. The looting is fine, not exciting. You see the drawn card before choosing the discard, so the rummage does enable graveyard-discard reads, but TMT has thin payoff density for that line, and the body is too slow to make the selection feel like tempo.
This is a 23rd-card slot. Maindeck it when you are short on evasion and want a body that also helps you hit lands; otherwise it stays in the pool. Stomped by the Foot eats it cleanly for three mana, and Grounded for Life snipes it the turn after it attacks, so it is not even a reliable clock.
