I think the real downfall is that it could do so much more in a different color combination: blue would allow you to create tokens while under a Standstill, while green would allow for a more recognizable enchantress build
Of course, if they dont block, they take a bunch of damage as a result
Merfolk gets Branching Evolution ($18), Thassa, God of the Sea ($8), and Metallic Mimic ($8), while Dinosaurs have Akroma's Will ($19), Apex Altisaur ($13), and Chandra's Ignition ($10)
All in all, the dragon is just a very pushed card that exemplifies how Modern is played in 2022: Use your graveyard, kill or deny your opponents stuff and then put down a big beast to finish them off
Risking an attacker and spending multiple resources on the off chance you get a 3-drop for free is not superb, but there are plenty of excellent 3-mana payoffs in
Let's, um, dig in