Any time you are immediately drawing a card for free after playing any card, you have potential for great abuse. It is free quanta (from immolations, supernovas and pillars) to power free cards. The only resource that you are really depleting is cards-in-deck.
That said, with sufficiently high cost, it could be balanced. This is because a bad draw with none of this card will leave you with a powerless deck. Also, a bad draw with not enough quanta to play out your hand (e.g. with too many of this card) will also screw you.
So in essence, the mechanic, if properly balanced, makes unreliable decks that are either immensely powerful (X-turn kill) or goldfish, just depending on the draw. It doesn't seem like a very fun idea to me in this light.
