As for the main drawback of MDFCs (coming into play tapped), it is a concern, but not a huge one
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Thus, it is a viable option if drawing a card is a desirable effect for your deck
Second, being a 5-color legend means you can play the best of the best of your desired creature type with no color identity restrictions.
Bigger decks need more cards and so more cards get played and a much much broader array of interactions between cards is then seen
Three mana is a lot to spend not immediately impacting the battlefield, but a 2/3 body isnt nothing, and just using the card to cast something cheap like a Ponder or a Lightning Bolt is still pretty strong