Blue doesnt often get uncounterable kill spells, and this is a way to just shut down Murktide Regent, Delver of Secrets, or Dragons Rage Channeler early and without fear of reprisal
It plays best in a low-curve deck with lots of small legends like Tymna the Weaver or payoffs like General's Enforcer, building up a strong battlefield presence turn after turn
Given that it is red, its quite easy to transform it on the same turn before playing your land, and then discarding the rest to the pyre to refresh yourself with new resources (while presumably also bombing a few relevant battles on the way)
Having two of those qualities doesnt make an object more historic than another or provide an additional bonusan object either is historic or it isnt.
And it broke the game's clock system since in tournaments, when a round goes to time, players get five more turns to finish the match, which doesn't work very well if one of those turns can be an hour-long Nadu loop
(2017-04-18) If another effect allows you to cast a split card with aftermath from any zone other than a graveyard, you cant cast the half with aftermath