I'm not sure, but I don't think we can call it 'fast mummies' if we need to gather 12
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in a duo deck... and if we want to add
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to eat anything with those scarabs then it would be even slower.
Adding
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and anubises instead would allow us to protect pharaohs from rewinding, but would also make a very slow deck with little control.
It's not a big advantage if it rewinds a single creature each turn if you can only play it later when opponent already has a number of creatures on the field, and you have to worry about your own creatures too. Using it in mono-time would require you to use cheap creatures (deja vu probably would be best) but without buffs it would be very vulnerable to shields and RoF/plague/thunderstorm.
So basically in mono it's not a big advantage, in duo it's slow. The best use for it I can think of is to use it in conjunction with eternity in late game to rewind 2 or more creatures each turn without having to use flying eternities, but then you would only use it when you already have a lot of creatures in play and enough pillars to play them back after they are rewound.
I wonder if you could make any good creatureless decks with it. Maybe a
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with only immaterial creatures could make a use of these.
At least that's what I think. I'm not saying it's underpowered, but it simply does not seem to have many advantages or uses that would actually help you win.