Finding the card you need for 1 mana at instant speed is a bargain, and you can likewise set the top card of your library for many combos
As I mentioned in the intro, Wizards suggested that it is looking at possibly unbanning something in February, after the next Modern Pro Tour
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Its a powerful one-off effect, even if its a little weaker in black given a lack of untap effects like Turnabout
If Mystic Reflection resolves, but the target creature leaves the battlefield before the next time one or more creatures or planeswalkers enter the battlefield, use the copiable values of the target creature as it last existed on the battlefield to determine what the entering permanents copy
Decide the mode first, then choose the route