It didn't suck for me. I was able to consistently beat Obliterator, Elidnis, Ferox, Fire Queen, Destiny, Gemini, Incarnate, Miracle, Neptune, and Paradox with it.
You don't need a lot more upped than the cards that were stated. The rest that upgraded didn't give much, but at lower cost. You need the Otyughs upgraded for the higher health and the Hourglasses for the drawing power.
10/24 gods aren't very good odds :\
My Rol/Fractal/Hope deck has beaten Ferox once, but never since. The bonds are just too many, and the dragons just barely too many for me to heal, so I have to put something like 5 RoL down minimum to stay alive (I forget the math, it depends how many dragons he has out), which doesn't leave enough dragons to kill him in one go, which you have to, since he heals up completely in one turn. The one time I beat him I went for the risky route (probably the only way to beat him with RoL-hope) and played 10-12 RoL as soon as I could, then started spamming dragons with my hope shield up. I just barely killed him, having 2 damage over the minimum required when he played two more bonds.
My deck beats Fire queen 80%+ of the time (1/5 games I just quit when I don't draw an electrocuter before he gets too far in his combo) and osiris around 75%+ (he often plays 2-3 pharaohs in one turn, and eats my RoL before I can lobotomize his pharaohs and then the scarabs. I consistently (95%+) beat Destiny, Miracle, Divine Glory, and several other gods, almost always with elemental mastery.
That deck that you posted is extremely slow. It needs 6 sundials because it's so slow getting started. Rol/Hope has very very short turns (nothing to do other than fractal RoL and eventually dragons, play them, and lobotomize) and wins before the 20th turn, whereas that deck by SG almost always has to start rewinding before it finishes, taking at least twice as long if not more. Most rainbows go the same way, which is why I recommended Puppychow's, which at least gets a higher percentage win rate than RoL/Hope and has a similar dynamic (If you're going to lose, you probably will very quickly).
RoL is just easier to play, faster, more efficient (time spent versus money gained), and has a very comparable winning rate to all the other decks out there. Very few gods have abundant mass-creature control, which is great, since fractals give you access to a LOT of rays of light and dragons. Against neptune, for example, I often win after playing around 30 RoL in total by the end (early flooding is easily counterable by playing 7 minus the number of RoL on the field each turn until you can spam dragons in their place (don't play more than 7 creature except for the kill).
rainbows make my brain hurt :\