A good card concept, like Flooding, but, again similar to the same card, would be redundant in most cases.
Almost no decks can get more than 5 types of permanents (Not counting weapon, shield, and mark) out, even fewer that are PvP-worthy. The fact that you can play this on turn one is negligible--It will take quite a few turns for the opponent's field to get locked out (13 total slots if I recall, not including shield+mark+wep) and usually the only permanents decks want to be playing are Pillars, which they should already have multiple of by turn 4 or 5.
Aside from an obvious QS combo, I don't really see this card being used, ever, except maybe in events where you know it will be a hard-counter, but even then it's a big risk, trying to get it out before they can get whatever they need to get out.
You also are required to waste 6 slots on it to get a good chance of it early.