Though I wouldn't mind its cost reduced to 4|3 (it is fair to have a low cost since it is a card which can't act by itself, much like Soul Catcher or Boneyard) I don't think it is outclassed by SoGratitude. See, SoG is for creatureless (or almost creatureless) life stalls while Bonds are for creature spamming life stalls (or rush/stall mixtures). Since they both heal yet they are used at different deck archtypes, I don't think bond is outclassed by any other healing card in what it does and it can be proven a pain to deal with.
So, I chose for "it is fine as it is" but maybe, just maybe, a 4|3 cost would've been more fair...
@Serpex: Let's keep this discussion to the correct cardpool, yes? I am not asking this because you're wrong (though I think Toxic Fungus would've been a much better example in comparison to Alpha Wolf) but because it may mislead the subject, its topic and its discussion.