I have already seen people say the card is too good for Modern by making it too easy to interact with the board, while I think that slower Midrange and Control decks finally have the chance to interact with your opponent, which is the best thing which could happen to Modern in the long run
MTG is no exception to this, and were all looking for the extra interactions or values that can take a deck to another level
Its not the baddest beater in the world, but it will demand at least 7 life from opponents to remove, and is a boon to keyword soup decks (which usually feature Odric, Lunarch Marshal or Bloodric)
One game saw a curve of turn-two Solemn Simulacrum, turn-three Wurmcoil Engine, turn-four Myr Battlesphere
Sea Drake and Illusory Angel can both be better but this requires some effort in design while the Efreet is just good all of the time
Theres scarcity, nostalgia, and a growing casual player base