I did see that effect, and with this card you could actually fractal phase dragons than play another reflection to make them immaterial again. As to Odin's last post, I think that them main reason that the card made it that high up in the crucible is that cards can only go up. For voting, you vote for a card(s) that you like, not ones that you dislike. It just seems like a lot of people are angry about the status of immortality, are able to voice this opinion by voting cards up in the crucible. On the other hand, there is a lot smaller outlet for people who dislike a card proposal to voice their opinion.
One a side note, If this card just added immortality, then it might be a bit strong. Imagine a few of these in a RoL Hope deck, you would have a nigh invincible army of RoL as long as you hold onto at least one copy of the card to continue fractaling.
Yes, it has been mentioned many times that the CIA polls could use an overhaul... of course that would require getting enough people with the time, energy, and motivation to do so, which is not easy considering everyone is here on a volunteer basis...
That being said, it is true that cards can not be demoted levels. However, the fact that the card did make it to level 3 says that there are, at the very least, enough people that want it that it was able to
1) Keep a steady enough stream of votes to not get archived
2) Eventually get enough votes to rise past all its competitors and advance 2 times.
I'm not saying that necessarily makes it the best card ever, but it does say that there are a fairly significant amount of forum members who actually want to see something like that make it into the game.
In my opinion, removal of immaterial status shouldn't be a flat out impossibility, but there needs to be some MAJOR counterbalancing to doing so. Otherwise you will cripple one of the core balancing mechanics for a lot of cards... not to mention the aether element as a whole which relys on it to make its creatures "competitive".
So I guess what I'm saying is, if you are going to make a card that tampers with immortal status, make sure you consider all the angles. Theres a big call for something that can do so, but it needs to be very very well thought out and balanced.
This card just flat out swaps immaterial status. That's almost certainly a bad idea unless there is something to keep it from being abused, which could be done far too easily as it stands now.... Come to think of it, I believe that this card has been proposed before (not just similar but practically exactly the same). I will try to find the link so you can refer to it.
If you still want to go forward with manipulating immaterial status, have a look through relevant design theory topics. The pros and cons get discussed alot. You won't be able to make everyone happy, but I do think there is potential for a cool and unique card idea if you take your time and do it well.
-Best of luck