The mutate cost is a little high (although it needs to be because of flash), so youre probably better off adding some other creature with a lower mutate onto Dirge Bat in order to get the trigger
It can also be Warped, meaning you can cast it for less, exile it at the end of the turn, and then summon it back later
I feel like losing to a card like Timetwister just feels bad, because it puts a financial limit on certain types of win conditions
Anything else specified in the effect creating the token (such as tapped, attacking, "That token gains haste," or "Exile that token at end of combat") still applies
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Don't do that