It has a specific cast timing and goads an opponents creatures into attacking another opponent
Most, if not all counterspells are instants, so anything that synergizes well with casting a lot of instants can reward your counterspell-heavy deck
If you pay the dash cost to cast a creature spell, that card will be returned to its owner's hand only if it's still on the battlefield when its triggered ability resolves
The card features Gengar in the process of performing its move, "Swallow Up," but in the alternate art style and colors
Not sure what to think of this tbh The stamps themselves look legit in your first picture, except maybe the sixth on in the first picture
The 1st Edition runs themselves were also becoming relatively small compared to Unlimited prints, reducing the commercial argument for the practice