This card, while not clearly op, is extremely annoying to play against and counters a lot of decks it honestly shouldn't...
You provided evidence that you get annoyed playing against it.
You have not yet supplied evidence that it counters decks it shouldn't.
It counters all slow, non-rush decks: by sending your creature back to your deck it controls your creatures, card drawing, AND quanta (gotta spend it to get that creature back on the field) all with one cheap, spammable card. It's too much.
It does not counter all non-rush decks.
It does not counter, for example, any kind of stall. It does not counter immaterial creatures. It does not efficiently counter Mummy or Skeleton. It does not counter any sort of bolt deck. It does not counter any sort of SoV deck.
Compared to Lightning and Basilisk Blood, Reverse Time is reasonable. Lightning offers permanent CC at the cost of requiring a creature to have 5 or less HP. Basilisk blood does not care about HP, but only delays the creature instead of killing it. Reverse Time removes the creature from the battlefield, but -probably- improves your next draw significantly and does not permanently take care of the creature.