The problem your having is that you are too used to other card games. In magic the gathering, a double draw is a brutal way for the game to end, but in this not so much.
Because of accumulative quantums, there's no such thing as early game. Only mid-game and late game. This means that effectiveness simply means you need to get a combo out faster than your opponent, you don't necessarily have to have the weak cards for the early game. And because of accumulative quantums, cards with high mana-cost don't really balance as well as they do in Magic the Gathering, where a card for 15 mana could be a 99|99 trample haste. Because of these two facts, creature spam directly from your deck is an ineffective strategy, as combos are far easier to get out, and the only way to win is to have a good combo.
Time has no good combos.
And I don't say that because I don't normally play with time, but I'm saying it because it's true. Anubis? Scarab? Nothing combared to FFQ loops. The only combo time does have is graboid shrieker, which isn't really a combo but creature spam anyway. My point being that while time might look OP for double drawing, it doesn't really have anything to do with it. Artificial speed in a deck without good combos only makes a fast deck, which is why time has the fastest decks in the game, second maybe to fire. Which brings me to my next point.
There are board limits. Even if you designed a time deck just to spit random creatures/dragons on the field, eventually the board will fill. And because time has no creature spawners, this is pointless.
This game also has shields/healing methods very unsimilar to magic. And because of the 100 health and no blockers, there is a severe limit to the effectiveness of creature spamming. It doesn't matter how many skeletons you have on the field, my damage will always get through. So even if you use time and have 23 creatures on the field, I'll still hit you.
What am I getting at? Time is great for a giant push of cards in the mid-game, but eventually it'll peter out. Sure it'll draw ridiculous amounts of creatures, but at a certain point your deck should speed up past it, and it will be reduced to reverse timing it's own creatures with eternity to stay alive. And if your deck cannot reach that point, you're clearly doing it wrong.
You made a fair point about the false gods however. Clearly, if you can't beat them, they are unbeatable and should be nerfed.