If you target a Golden Hourglass, the Hourglass loses it's ability (like it was lobotomized). Then the SoDe gains the Hasten ability that costs
If you target a creature it will still gain the ability, although it's ability might not work for a Permanent. But at least you can still lobo the creature (for the upped version).
You can only take activated abilities. For instance, if you target a stack of pillars, then you create a permanent that has no ability. Non-activated abilities like Momentum are not affected either. In this way, it makes it different from Steal, since you can't technically 'target' everything.
Remember too that shards will stack, which means you can't just duplicate a card and spam with it. If you use this card when another one is already out, it will overlay the old one.