I was against cards that destroy cards in your hand, too, but that looks like it's going to be implemented, so I suppose it doesn't matter that I'm against cards that make your enemy reveal his hand permanently. It's fine if it reveals both your hands to each other, 'cuz then it's more powerful than precog and yet less so in its own right (no drawing power, plus reveals yours). Seeing your opponent's hand forever is just too powerful, especially for that low price (but I wouldn't want it available for any price). It lets you see any combos being set up ahead of time. Precog only shows your opponent's hand once and his draw, so you often don't get forewarning that he's setting up a combo, etc., unless you happen to precog at the right time.
like dune scorpion, I can't predict just how powerful this would be until I saw it in-game, but in both cases I'm dearly worried.